Deposits that have been recorded on the book, but have not yet been recorded by the bank are:
A.Nonsufficient funds deposits.
B.Electronic funds transfers
C.Deposits in transit.
D.Electronic funds deposits.
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When preparing a bank reconciliation, which statement is right?
A.deposits in transit are added to the bank balance.
B.service charges are subtracted from the bank balance.
C.outstanding checks are deducted from the book balance.
D.book errors are subtracted from the bank balance.
The two most common types of fraud impacting the financial statements are:
A.fraudulent financial reporting and e-commerce fraud.
B.misappropriation of assets and embezzlement.
C.fraudulent financial reporting and misappropriation of assets.
D.cooking the books and fraudulent financial reporting.
The three main components of the fraud triangle are:
A.rationalization, opportunity and greed.
B.opportunity, motive and lack of ethics.
C.motive, opportunity and rationalization.
D.none of the above.
The Sarbanes-Oxley Act of 2002:
A. requires public companies to issue an internal control report.
B. requires an outside auditor to evaluate the soundness of a public company's internal controls.
C. requires public companies to issue a special report on the amount of collusion within a company.
D. A and B