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Chapt 5 Graded Quiz Acc 4800

Chapt 5 Graded Quiz Acc 4800

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Published by Fred Flinstone

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Published by: Fred Flinstone on Jun 25, 2012
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ACC-4800
Quizzes
Chapter 5
Chapter 5
Instructions:
Score for this quiz: 40out of 51Submitted May 13 at 1:45pmThis attempt took about 21 hours.Question 1: 1ptsFighting fraud calls for prevention as the first step and the preferred tactic.0% of pointsOften misappropriation is accomplished by false or misleading records or documents.0% of points Accountants are perhaps the most valuable employee-fraud fighters.0% of pointsNone of the above.100% of pointsGovernment entities are generally not targets for fraudsters.0% of points0 / 1Question 2: 1ptsTips.100% of points Accident.0% of pointsExternal auditors.0% of pointsSome other method.0% of pointsInternal auditors.0% of points1 / 1Question 3: 1pts$720,000.0% of points$540,000.0% of points$820,000.0% of points$1,000,000.100% of pointsSome other amount.0% of points$1,000,000 ($220,000 / 0.22).1 / 1Question 4: 1pts$1,400,000.0% of pointsSome other amount.0% of points$280,000.0% of points$560,000.0% of points$7,000,000.100% of pointsWhich statement is false?The most common method of detecting occupational fraud is: A company has a 22% profit margin and has employee fraud of $220,000. Calculate the additional revenue needed to offset this lost income.You are told that a company has a 20% profit margin and the discovered fraud has caused $1,400,000 more needed revenue to cover the fraud. How much wasstolen?
Page 1 of 12Chapter 5: ACC-4800-0015/17/2012https://learn-uvu.uen.org/courses/67279/quizzes/133631
 
.20 ($1,400,000).0 / 1Question 5: 1ptsNone of the above is incorrect.0% of pointsCash flow analysis may indicate fraud and embezzlement.0% of pointsTheft is similar to embezzlement.100% of pointsGross profit analysis may catch skimming and money laundering.0% of pointsCash is the favorite target of fraudsters.0% of pointsTheft and larceny are different than embezzlement.1 / 1Question 6: 1ptsUnderstated sales.0% of pointsTheft of incoming checks.0% of pointsSkimming.0% of points All of the above.100% of pointsUnrecorded sales.0% of points0 / 1Question 7: 1ptsTheft of incoming checks.0% of points All of the above.100% of pointsUnderstated sales.0% of pointsSwapping checks for cash.0% of pointsUnrecorded sales.0% of points0 / 1Question 8: 1ptsSkimming.0% of pointsMoney laundering.0% of pointsKiting.100% of pointsNone of the above.0% of pointsLapping.0% of points1 / 1Question 9: 1ptsSurprise cash counts.0% of pointsInvestigating customers' complaints.0% of pointsWhich is an incorrect statement?Which technique is considered to be an "off-book" fraud?Which scheme is considered to be skimming?Building up balances in bank accounts based upon floating checks drawn against similar accounts in other banks is best called:Skimming can be caught by:
Page 2 of 12Chapter 5: ACC-4800-0015/17/2012https://learn-uvu.uen.org/courses/67279/quizzes/133631
 
Comparing receipts with deposits.0% of pointsGross profit analysis.0% of points All of the above.100% of points1 / 1Question 10: 1ptsLarge deposits on Fridays.0% of pointsItems a, b, and c.100% of pointsOnly a and c.0% of pointsFrequent deposits and checks in the same amount.0% of pointsShort time lag between deposits and withdrawals.0% of points1 / 1Question 11: 1ptsReviewing customer complaints.100% of points All of the above.0% of pointsSurprise cash counts.0% of pointsGross profit analysis.0% of points A bank reconciliation audit.0% of points0 / 1Question 12: 1ptsLapping.0% of pointsGhost employee.100% of pointsNone of the above.0% of pointsMissing employee.0% of pointsKiting.0% of points1 / 1Question 13: 1ptsBid rigging.0% of points All of the above.0% of pointsLand flip.100% of points A ghost scheme.0% of pointsPonzi scheme.0% of points1 / 1Question 14: 1ptsWhat is a red flag of kiting?What audit step would be most appropriate for finding accounts receivables fraud? A person on the payroll who does not work for that company is generally called: A person finds land, buys it, increases the price, and sells it to his company. What is this scheme?Joseph Wells believes that the most powerful audit technique is:
Page 3 of 12Chapter 5: ACC-4800-0015/17/2012https://learn-uvu.uen.org/courses/67279/quizzes/133631

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