Which of the Following Fraudulent Acts Generally Takes Most Time

question 6

Multiple Choice

Which of the following fraudulent acts generally takes most time and effort?

• A)Lapping accounts receivable.
• B)Selling stolen inventory to get cash.
• C)Stealing inventory from the warehouse.
• D)Creating false journal entries to overstate revenue.

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Definitions:

Trust Agreement

A legal document that outlines the terms and conditions under which a trust is to be managed and specifies the rights and duties of the parties involved.

Inheritance

A legal process through which assets, titles, debts, rights, and obligations are received from someone's estate after their death.

Compounded Annually

Interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan, occurring once per year.

Interest

Interest is the charge for borrowing money or the payment earned on deposited funds.