Which of the Following Can Be Used by Fraud Examiners

question 6

Multiple Choice

Which of the following can be used by fraud examiners to sift through millions of journal entries to find the potentially fraudulent few?

• A) Microsoft Access
• B) SPSS
• C) ODBC
• D) ACL

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Definitions:

LIFO

Last In, First Out, an inventory valuation method that assumes goods purchased last are the first to be used or sold, affecting cost of goods sold and inventory value.

Average

A statistical measure that denotes the central value of a set of numbers.

Dollar-Value LIFO

An inventory valuation method that uses the last-in, first-out (LIFO) principle but measures inventory in dollar amounts rather than in physical units.

Specific Identification Method

An inventory valuation method that tracks the cost of specific items sold and remaining inventory.