Which of the Following Statements Is NOT True

question 44

Multiple Choice

Which of the following statements is NOT true?

• A) Accounting errors are usually spread evenly throughout a data set.
• B) Traditional auditing methods are more suited to finding errors than fraud.
• C) Accounting anomalies indicate fraud has occurred or is occurring.
• D) Fraud investigation involves determining who committed the fraud, the schemes used, and how much money or assets were taken.

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Definitions:

Target Date Fund

A mutual fund designed to adjust its asset allocation towards more conservative investments as it approaches a specific target date.

Variable Annuity

An insurance product that provides a retirement income and whose value fluctuates with the performance of the investment options chosen by the holder.

Life Expectancy

The average period that an individual is expected to live, based on demographic factors such as current age and health conditions.

Roth Retirement Plan

A type of retirement account that allows qualified withdrawals on a tax-free basis, provided certain conditions are met.