Which of the Following Is a Characteristic of Fraudulent Journal

question 18

Multiple Choice

Which of the following is a characteristic of fraudulent journal entries?

• A) These contain exact numbers or inconsistent ending numbers.
• B) These are generally recorded at the beginning of the period.
• C) These are made to regularly used accounts.
• D) These are applied to intercompany or related parties.

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Definitions:

Lease

A contractual agreement where one party, the lessor, grants another party, the lessee, the right to use an asset for a specified period in exchange for payments.

Present Value

The present value of a future amount of money or a series of cash inflows, considering a certain rate of return.

Surround Sound Stereo

A system of audio amplification that enhances the depth and quality of sound reproduction by using multiple speakers around the listener.

Interest Rate

An interest rate is the percentage of principal charged by the lender for the use of its money or the rate earned on deposits.