ACCT 562 DeVry Midterm Exam
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<strong>ACCT</strong> <strong>562</strong> <strong>DeVry</strong> <strong>Midterm</strong> <strong>Exam</strong><br />
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<strong>ACCT</strong> <strong>562</strong> <strong>DeVry</strong> <strong>Midterm</strong> <strong>Exam</strong><br />
<strong>ACCT</strong><strong>562</strong><br />
<strong>ACCT</strong> <strong>562</strong> <strong>DeVry</strong> <strong>Midterm</strong> <strong>Exam</strong><br />
(TCO D) Field techniques for cash review include analyzing<br />
(TCO F) Manually altering entries in an organization’s books in order to conceal fraud is called:<br />
(TCO F) Which of the following is not one of the primary purposes of asking introductory questions during an interview?<br />
(TCO F) When the subject of an investigation has been accused of misconduct, establishing a morally acceptable<br />
rationalization might allow the accused to reconcile his or actions with his conscience. Which of the following is not an<br />
example of an acceptable rationalization?<br />
(TCO F) In one of the case studies in the textbook, Brian Lee, a top-notch plastic surgeon, collected payments from his<br />
patients without giving a cut to the clinic where he practiced. What was his motivation for committing the fraud?<br />
(TCO F) Nicolette Garrison works part-time at an independent record store. Whenever her friend, Jacob Barker, comes<br />
into the store during one of her shifts, he picks up a CD and brings it to the register where Nicolette is stationed. After<br />
ringing a “no sale” transaction on the cash register, Nicolette pretends to swipe Jacob’s credit card for payment. She<br />
puts the CD in a bag and gives it to Jacob, who walks out without actually paying for the merchandise. What kind of<br />
scheme is being committed?<br />
(TCO F) A(n) _____________ interview is one that has the potential to bring about strong emotional reactions in the<br />
respondent<br />
(TCO F) According to the 2006 Report to the Nation on Occupational Fraud and Abuse, the theft of which type of noncash<br />
asset was the least common but caused the highest median loss? (TCO A)Discussing the benefits of operational<br />
reviews with management helps to<br />
(TCO B) Financial ratios used in planning include:<br />
(TCO A-D) Interviewing, financial analysis, observing processes are all part of the ___________phase<br />
(TCO A) Operational areas eligible for review include (TCO A) The reason(s) a business exists include<br />
(TCO F) Albrecht’s Fraud Scale differs from Cressey by utilizing the factor of ________________________.<br />
(TCO F) In one of the case studies in the textbook, Brian Lee, a top-notch plastic surgeon, collected payments from his<br />
patients without giving a cut to the clinic where he practiced. How was he punished<br />
(TCO F) In the Fraud Tree, asset misappropriations are broken down into cash and non-cash schemes. Which of the<br />
following is not considered a misappropriation of cash?
(TCO F) The conceptual framework for financial reporting includes several assumptions that underlie generally<br />
accepted accounting principles. Which of the following is one of these assumptions<br />
(TCO A) Operational review phases are ordered in<br />
(TCO F) Reversing entries is a method for concealing larceny of ___________?<br />
(TCO F) Dorothy McNally stole $232 from the company deposit while on the way to the bank. She can conceal the theft<br />
by recording the missing amount on the bank reconciliation as a(n):<br />
(TCO F) According to a study by COSO, which of the following groups is the most likely to commit financial statement<br />
fraud?<br />
(TCO B) One of the primary purposes of the planning is to:<br />
(TCO A) Operational review procedures embrace the concept of conducting operations for economy, efficiency, and<br />
effectiveness. Provide a brief description of the EFFICIENCY aspect, and provide an example.<br />
(TCO A) Compare and contrast a financial audit versus an operation review using the following characteristics: Purpose,<br />
Scope, Skills, Audience, Audit Results, and Focus<br />
(TCO F) Cressey’s “fraud triangle” states that three factors—non-shareable financial need, perceived opportunity, and<br />
rationalization—are present in cases of occupational fraud. Which of these three factors, if any, is the most important<br />
in causing executives, managers, and employees to commit occupational fraud?<br />
In the case study, “The Importance of Timing,” what kind of fraud did the accountant commit? How could this fraud<br />
have been discovered?
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