Indicate how each event affects the financial statements. Use the following letters to record your answer in the box shown below. If an event increases one account and decreases another account equally within the same element, record I/D. If an event has no impact on the element, record NA. You do not need to enter amounts.
Increase = I Decrease = DNot Affected = NA
A transaction recorded as a debit to Office Supplies and a credit to Accounts Payable.
Definitions:
Insurance Fraud
Illegally manipulating or fabricating claims with the intent to obtain undue financial benefit from an insurance policy.
White-Collar Crime
A category of non-violent crimes, usually committed in commercial situations for financial gain.
Corporate Crime
Illegal acts committed by a company or its employees that are designed to benefit the corporation financially or otherwise.
Larceny
The unlawful taking of personal property with the intent to permanently deprive the owner of it.
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