Which of The Following Is An Example of Fraudulent Financial Reporting?
Which of The Following Is An Example of Fraudulent Financial Reporting?
Which of The Following Is An Example of Fraudulent Financial Reporting?
b.
2s
TAIT
a.
28. Which of the following is an example of fraudulent financial reporting?
Company management changes inventory count tags and overstates ending
inventory, while understating cost of goods sold. The treasurer diverts customer
payments to his personal due, concealing his actions by debiting an expense
account, thus overstating expenses. An employee steals small tools from the
company and neglects to return them; the cost is reported as a miscellaneous
operating expense. An employee omitted an entry to record a bank transfer to
cover a cash shortage.
d.