You have been hired as a fraud auditor to examine the assets of a company that recently filed for Chapter 11 bankruptcy. The company manufactures and sells circuit boards for children's computerized toys. You have access to its financial statements and warehouses. The company is a closely held corporation. The company is suspected of fraudulently concealing assets.

Which of the following is not a red flag you would look for to indicate fraudulent asset concealment by a company involved in a bankruptcy proceeding?

a. Frequent and unusual transfers between bank accounts

b. Unusual reduction in assets

c. Travel to offshore tax havens or locations that allow secret bank accounts

d. Decreases in operating losses that are not explained by economic factors