Which of the Following Entries Are Not Common Symptoms of Fraud

question 21

Multiple Choice

Which of the following entries are not common symptoms of fraud?

• A) Journal entries made near the end of an accounting period
• B) Journal entries without documentary support
• C) Journal entries that do not balance
• D) All of the above are common symptoms of fraud.

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Definitions:

Invoice

A document issued by a seller to a buyer, indicating the products, quantities, and agreed prices for products or services the seller has provided.

Credit Purchase

The acquisition of goods or services with an agreement to pay later, usually within an agreed period.

Recorded

The act of entering financial transactions into the accounting records of a business.

Bill Paid

An event where an obligation, often recorded as an accounts payable, is settled by paying the outstanding amount.