Which of the Following Fraud Detection Steps Could Not Be

question 105

Multiple Choice

Which of the following fraud detection steps could not be performed by CAATs?

• A)Look for photocopies in invoice files.
• B)Look for vendor invoices in numerical order.
• C)Look for vendor invoices slightly below the approval threshold.
• D)Look for duplicate vendor numbers.

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Definitions:

Inventory

The goods and materials a business holds for the purpose of resale, part of the company's current assets.

Days

A measurement of time typically used to indicate the elapsed or required time for a particular event or condition.

Tax Rate

The percentage at which an individual or entity is taxed, often applied to income or sales.

Financial Position

A snapshot of a company's assets, liabilities, and equity at a specific point in time, indicating the financial health of the business.