Allison Everhart,an Employee in Accounts Payable,believes She Can Run a Fictitious

question 46

Multiple Choice

Allison Everhart,an employee in accounts payable,believes she can run a fictitious invoice through the accounts payable system and collect the money.She knows payments are subject to an audit.Which account would be the best place to hide the fraud?

• A) Inventory.
• B) Wage expense.
• C) Consulting service expense.
• D) Property tax expense.

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Definitions:

Units

Basic quantities or measurements used as a standard to express the amount, level, or size of something.

Monopolistic Competitor

A market structure in which many companies sell products or services that are similar but not identical, allowing for some degree of market power.

Perfect Competitor

A theoretical market structure where numerous small firms sell identical products, and no single seller can influence the market price.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of the good that consumers are willing to purchase at different prices.