In One of the Case Studies in the Textbook, Bill

question 9

Multiple Choice

In one of the case studies in the textbook, Bill Gurado was a branch manager for a consumer-loan finance company in New Orleans who decided to help himself to the daily deposits. Instead of depositing the money into the company's bank account, he deposited the money into his own personal account. How was Gurado's fraud discovered?

• A) He suspected he was on the verge of being caught, called the company's president, and confessed that he had taken the money.
• B) The auditors found it during a surprise audit of the branch Gurado managed.
• C) His assistant suspected him and reported him to the company's audit committee.
• D) A customer called to complain about receiving an overdue notice.

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Definitions:

Indirect Cost

Expenses not directly linked to the production of goods or services, such as administrative and marketing costs.