Chapter 8 Fraud, Internal Control and Cash

Quiz
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Other
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University
•
Medium
Joseph Burke
Used 19+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
True or False: Does SOX stand for Sarbanes-Oxley Act?
True
False
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is one of the six primary components of Internal Control?
Establishment of Responsibility
Safeguard Assets
Efficiency of Operations
Financial Pressure
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What are the three factors that contribute to fraudulent activity?
Reliable, Effective, and Independent
Opportunity, Financial Pressure, and Rationalization
Safety, Responsibility, and Application
Identify, Recall, and Fortitude
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What year did the Sarbanes-Oxley Act get passed?
2000
2022
2002
2021
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is one purpose of Internal Control?
Balance of Cash
Bank memorandum
Segregation of duties
Ensure compliance with laws and regulations
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is a reason for a time lag?
Deposits in transit
Employee Malfunction
Fraudulent Activity
Server Issues
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What does GAAP stand for?
Generally Accounted Accessing Principles
Generally Accepted Accounting Principles
Generally Accepted Accounting Policies
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