The Most Common Occupational Frauds in Small Businesses Involve Employees

question 45

Multiple Choice

The most common occupational frauds in small businesses involve employees doing all of the following EXCEPT:

• A) skimming revenues.
• B) fraudulently writing company checks.
• C) processing fraudulent invoices.
• D) altering financial statements.

Recognize how different factors such as time, wording, and external circumstances (like death or legal changes) can terminate an offer.

Understand the internal components of organizations and their significance.

Recognize strategies and philosophies for adapting to and managing change in organizations.

Identify the elements that contribute to building trust within and outside an organization.

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Definitions:

Temporary Working Capital

Additional working capital needed to support the fluctuating levels of business activity.

Cyclical Nature

Describes a pattern that repeats in cycles, often used in economics to describe the fluctuations in the economy over periods of expansions and recessions.

Seasonal

Pertaining to or occurring during a particular season of the year, often implying changes in business activities, market demand, or weather patterns that recur annually.

Working Capital Management

The practice of managing a company's short-term assets and liabilities to ensure it has sufficient liquidity to run its operations efficiently.