All of the Following Are in a Position to Commit

question 35

Multiple Choice

All of the following are in a position to commit fraud except for:

• A)Employees who have access to assets
• B)Top management who can override internal controls
• C)External auditors who manipulate the amounts recorded in the financial statements
• D)All of the above are in a position to commit fraud

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Definitions:

Market Value Data

Information regarding the price at which an asset is traded on the market, reflecting its current worth as determined by buyers and sellers.

Financial Statements

Formal records of the financial activities and position of a business, person, or other entity, typically including a balance sheet, income statement, and cash flow statement.

Financial Leverage

The use of borrowed funds to finance the acquisition of assets, with the expectation that the income or capital gains from the assets will exceed the cost of borrowing.

Cash Ratio

A liquidity metric that measures a company's ability to pay off short-term liabilities with its cash and cash equivalents.