Which of the Following Questions Should Be Answered When Considering

question 4

Multiple Choice

Which of the following questions should be answered when considering fraud risk and fraud prevention?

• A) Which types of fraud are the easiest and least costly to prevent?
• B) Which employees are in the best position to commit fraud?
• C) Which symptoms of a fraud act are most likely to be spotted?
• D) What are all of the types of possible fraud that can be committed?

Recognize the differences between GAAP and IFRS in cash flow reporting.

Calculate net cash provided or used by operating, investing, and financing activities.

Understand the treatment and reporting of non-cash investing and financing activities.

Demonstrate the ability to prepare a statement of cash flows from provided data.

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Definitions:

Bored

A state of feeling disinterested, restless, or unengaged due to a lack of stimulation or interest in the current activity or surroundings.

Habituated

The process by which an individual becomes accustomed to a stimulus or environment over time, leading to a decrease in responsiveness.

Yerkes-Dodson Law

A psychological principle that asserts there is an optimal level of arousal for the best performance of a task: too little arousal can lead to underperformance, while too much can lead to mistakes.

Simple Tasks

Activities or tasks that require a minimal amount of cognitive or physical effort to complete.