Misappropriation of Assets Is a Fraudulent Act That Involves

question 18

Multiple Choice

Misappropriation of assets is a fraudulent act that involves

• A)dishonest conduct by those in power.
• B)misrepresenting facts to promote an investment.
• C)using computer technology to perpetrate a crime.
• D)theft of company property.

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Definitions:

Straight-Line Method

A method of calculating the depreciation of an asset, which spreads the cost evenly over its useful life.

Depreciation Expense

The portion of the cost of a fixed asset that is recognized as an expense in the income statement over its useful life.

Revalued Upward

Revalued upward is a term used in accounting to indicate an increase in the book value of an asset to reflect its current market value.

Subsequent Depreciation

The allocation of an asset's cost over its useful life, considering any adjustments made following the asset's initial measurement and recognition.