All of the Following Methods Indicate How People Commit Financial

question 34

Multiple Choice

All of the following methods indicate how people commit financial statement fraud EXCEPT:

• A) Bribe the SEC to accept fraudulent financial statements
• B) Playing the accounting system
• C) Beating the accounting system
• D) Going outside the accounting system

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Definitions:

Goodwill

An intangible asset that arises when a business is acquired for more than its fair tangible asset value, often related to the brand, customer base, and reputation.

Trademark

A symbol, word, or words legally registered or established by use as representing a company or product.

Intermediaries

Individuals or organizations that act as middlemen in a transaction between two parties, facilitating interaction or negotiation between them.

Disintermediation

The removal of intermediaries from a supply chain or business process, often through direct transactions between producers and consumers facilitated by digital technologies.