Financial Statement Fraud Is

question 44

Multiple Choice

Financial statement fraud is:

• A) Putting forth another company's financial statements as your own.
• B) Any intentional or grossly-negligent violation of GAAP that is undisclosed and materially affects any financial statement.
• C) Any intentional or grossly-negligent violation of GAAP that is undisclosed and affects any financial statement.
• D) When the CEO and CFO do personally sign the financial statements.

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Definitions:

Managerial Accounting

The practice of identifying, measuring, analyzing, interpreting, and communicating financial information to managers for the pursuit of an organization's goals.

Objective

A specific goal or target that an organization or individual aims to achieve, often defined in measurable terms.

Property Tax

Taxes levied by local governments on real estate and sometimes other forms of personal property.

Selling Price

The amount a good or service is sold for in the market.