Fraudulent Journal Entries Often Have Unique Characteristics.These Include

question 98

Multiple Choice

Fraudulent journal entries often have unique characteristics.These include

• A)the use of an unrelated,unusual,or seldom used method in the entry
• B)an entry made by an individual who normally makes ledger entries
• C)an entry recorded at the end of a time period or as a post closing entry with little or no explanation of the reason for the adjustment
• D)new account numbers are associated with the entry
• E)the journal entry contains round numbers or numbers with consistent ending digits
• F)both A and C
• G)both B and D
• H)Both C and E

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Definitions:

MSB and MSC

Marginal Social Benefit (MSB) and Marginal Social Cost (MSC) refer to the additional benefit or cost to society of producing one more unit of a good or service.

Pollution

The introduction of contaminants into the natural environment, causing adverse changes and harm to ecosystems and human health.

Market Economy

A market mechanism where investment, production, and distribution decisions are informed by supply and demand forces, with the prices of goods and services set within an open pricing system.

Without Government

A scenario that describes a situation or theoretical condition where governmental institutions and interventions do not exist or are absent.