ACCT562 2022 April Week 1 Quiz Latest

ACCT562 Auditing - An Operational and Internal Perspective Including Fraud Examination
Week 1 Quiz
Question 1(TCO A) Required traits of a good operational reviewer include:
Foreign language skills
Advanced programming knowledge
Management experience
None of the above
Question 2(TCO A) _____ and converting cash allows a business to survive.
Customer service
Debt management
Employee satisfaction
None of the above
Question 3(TCO A) Operational review phases include all EXCEPT the following:
Reporting
Field Work
Planning
Shareholder letter
Question 4(TCO A) The E of the Three E's pertaining to obtaining RESULTS of operations is:
Effectiveness
Economy
Efficiency
Economics
Question 5(TCO F) Which of the following is NOT a part of the fraud theory approach?
Analyze available data.
Develop what-if scenarios.
Identify who committed the fraud.
Refine the hypothesis.
Question 6(TCO F) Which of the following is NOT one of the legs of the Fraud Triangle?
Situational environment
Perceived non-shareable financial need
Perceived opportunity
Rationalization
Question 7(TCO F) Research in the Hollinger-Clark study suggests that the best way to deter employee theft is by:
Increasing sanctions imposed on occupational fraudsters
Increasing the perception of detection
Strengthening internal controls
Communicating the organization’s fraud policies to employees
Question 8(TCO F) In the Fraud Tree, asset misappropriations are broken down into cash and non-cash schemes. Which of the following is NOT considered a misappropriation of cash?
Larceny
Illegal Gratuity
Skimming
Fraudulent Disbursement
Question 9(TCO F) The concealment of receivables skimming can be difficult because
the incoming payments are expected.
inventory must be padded to conceal shrinkage.
the audit trail must be destroyed.
All of the above
Question 10(TCO F) In one of the case studies in the textbook (page 51), Brian Lee, a top-notch plastic surgeon, collected payments from his patients without giving a cut to the clinic where he practiced. How was he punished?
Allowed to continue with the practice and make restitution.
Terminated and required to make full restitution.
Sued in civil court for the amount of loss.
Convicted of larceny and sentenced to prison.

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Solution: ACCT562 2022 April Week 1 Quiz Latest