Which of the Following Is the Best Way to Hide

question 41

Multiple Choice

Which of the following is the best way to hide theft of assets?

• A) creating "cash" through the transfer of money between banks
• B) conversion of stolen assets into cash
• C) stealing cash from customer A and then using customer B's balance to pay customer A's accounts receivable
• D) charging the stolen asset to an expense account

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Definitions:

AASB 10/IFRS 10

Standards dealing with the principles for the preparation and presentation of consolidated financial statements when an entity controls one or more other entities.

Voting Shares

Shares of a company's stock that grant the shareholder the right to vote on corporate matters, such as electing the board of directors and approving major corporate actions.

Protective Rights

Rights designed to protect the interest of the party holding those rights without giving that party power over the entity to which those rights relate.

Shared Control

A situation in business where two or more parties have the rights to govern the financial and operating policies of an enterprise in a way that both have significant influence but not full control over it.