The Major Emphasis in GAAS Related to Consideration of Fraud

question 49

Multiple Choice

The major emphasis in GAAS related to consideration of fraud in a financial statement audit (AU 240) is on

• A)employee misappropriation of assets.
• B)management fraud.
• C)client fraud on customers.
• D)employee embezzlement.

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Definitions:

Skull

The bony structure forming the head, protecting the brain and supporting the structures of the face.

Sensory Impulses

Electrical messages that are transmitted along sensory neurons, carrying information from sensory receptors to the central nervous system.

Optic Nerve

A paired nerve that transmits visual information from the retina to the brain.

Ciliary Body

A part of the eye that includes the ciliary muscle, which controls the shape of the lens for focusing, and the ciliary epithelium, which produces the aqueous humor.