Chapter 8 Fraud, Internal Control and Cash

Chapter 8 Fraud, Internal Control and Cash

University

10 Qs

quiz-placeholder

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Chapter 8 Fraud, Internal Control and Cash

Chapter 8 Fraud, Internal Control and Cash

Assessment

Quiz

Other

University

Medium

Created by

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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