Exam 3: Fraud, Ethics, and Internal Control

According to the 2010 Report to the Nation by the Association of Certified Fraud Examiners, the estimate of global losses due to fraud would total approximately $650 billion.

(True/False)

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Question 61

The theft, concealment, and conversion of personal gain of another's money, physical assets, or information is termed:

(Multiple Choice)

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Question 62

This activity serves as a method to confirm the accuracy and completeness of data in the accounting system:

(Multiple Choice)

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Question 63

Which of the following types of fraud is the most common, according to the Association of Certified Fraud Examiners?

(Multiple Choice)

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Question 64

An example of concealment would include:

(Multiple Choice)

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Question 65

Computer systems increase the efficiency and effectiveness of an organization but also increase their vulnerability.

(True/False)

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Question 66

It is not always possible to avoid all mistakes and frauds because there will always be human error, human nature, and it is not always cost-effective to close all the holes.

(True/False)

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Question 67

The theft of assets by a non-management employee is termed:

(Multiple Choice)

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Question 68

This type of external computer fraud is intended to overwhelm an intended target computer system with so much bogus network traffic so that the system is unable to respond to valid traffic.

(Multiple Choice)

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Question 69

The existence of verifiable information about the accuracy of accounting records is called an):

(Multiple Choice)

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Question 70

The definition of fraud includes the theft of:

(Multiple Choice)

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Question 71

The falsification of accounting reports is referred to as:

(Multiple Choice)

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Question 72

In order to fulfill the obligations of stewardship and reporting, management has to create a code of ethics.

(True/False)

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Question 73

Management circumvention of systems or internal controls that are in place is termed:

(Multiple Choice)

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Question 74

In the Phar-Mor fraud case, management did not write or adopt a code of ethics.

(True/False)

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Question 75

The component of internal control, identified in the COSO report, that sets the tone of an organization and includes the consciousness of its employees is:

(Multiple Choice)

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Question 76

Management fraud may involve:

(Multiple Choice)

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Question 77

The careful and responsible oversight and use of the assets entrusted to management is called:

(Multiple Choice)

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Question 78

Which of the following is a characteristic of computer fraud?

(Multiple Choice)

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Question 79

In order to have the segregation of duties recommended by COSO, it would be necessary for a small organization to hire two additional individuals.At this time, there is not enough work for the one office employee to stay busy.The reason for not hiring the additional people would have to do with:

(Multiple Choice)

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Question 80

Showing 61 - 80 of 131

According to the 2010 Report to the Nation by the Association of Certified Fraud Examiners, the estimate of global losses due to fraud would total approximately $650 billion.

The theft, concealment, and conversion of personal gain of another's money, physical assets, or information is termed:

This activity serves as a method to confirm the accuracy and completeness of data in the accounting system:

Which of the following types of fraud is the most common, according to the Association of Certified Fraud Examiners?

An example of concealment would include:

Computer systems increase the efficiency and effectiveness of an organization but also increase their vulnerability.

It is not always possible to avoid all mistakes and frauds because there will always be human error, human nature, and it is not always cost-effective to close all the holes.

The theft of assets by a non-management employee is termed:

This type of external computer fraud is intended to overwhelm an intended target computer system with so much bogus network traffic so that the system is unable to respond to valid traffic.

The existence of verifiable information about the accuracy of accounting records is called an):

The definition of fraud includes the theft of:

The falsification of accounting reports is referred to as:

In order to fulfill the obligations of stewardship and reporting, management has to create a code of ethics.

Management circumvention of systems or internal controls that are in place is termed:

In the Phar-Mor fraud case, management did not write or adopt a code of ethics.

The component of internal control, identified in the COSO report, that sets the tone of an organization and includes the consciousness of its employees is:

Management fraud may involve:

The careful and responsible oversight and use of the assets entrusted to management is called:

Which of the following is a characteristic of computer fraud?

In order to have the segregation of duties recommended by COSO, it would be necessary for a small organization to hire two additional individuals.At this time, there is not enough work for the one office employee to stay busy.The reason for not hiring the additional people would have to do with:

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