Which of the Following Is False Concerning "Topside" Journal Entries

question 18

Multiple Choice

Which of the following is false concerning "topside" journal entries used to commit financial statement fraud?

• A) Upper management usually records the journal entry
• B) Entries are recorded directly to the subsidiary ledger
• C) The journal entry may be recorded after normal business hours.
• D) All of the above are false

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Definitions:

Contract Law

Contract law is the body of law that governs the creation, enforcement, and interpretation of agreements between parties, defining obligations mutually agreed upon.

Repealed

Describes a law or regulation that has been officially revoked, cancelled, or annulled by legislative action.

Restraint Of Trade

Legal term referring to contractual obligations that limit a person’s freedom to engage in business activities with others, often scrutinized for its impact on free trade.

Contract Law

The collection of legal principles that oversees the formation, implementation, and understanding of contracts between individuals.