Which of the Following Is Correct Concerning "Window Dressing" for Cash

question 14

Multiple Choice

Which of the following is correct concerning "window dressing" for cash?

• A) A segregation of duties within the cash function effectively eliminates its occurrence.
• B) It generally involves manipulation of inventory.
• C) It is illegal, and an audit is designed to provide reasonable assurance of its detection.
• D) Many forms of it require no action by the auditors.

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Definitions:

Crowdfunding

A method of funding a project or venture by raising small amounts of money from a large number of people, typically via the Internet.

Prototype

An early sample, model, or release of a product built to test a concept or process or to act as a thing to be replicated or learned from.

Angel Investor

A prosperous person supplying financial support for a start-up business, often in exchange for ownership equity or convertible debt.

Post-money Valuation

The value of a company after external financing and injections of equity have been added to its balance sheet.