IT Certification Exam Questions & Answers

NEW QUESTION 17
Delivery has not occurred or services have not been rendered when:

NEW QUESTION 18
A technique by which checks are numbered using a new technique that is revealed by a colored highlighter pen or by a bright light held behind the check is called:

NEW QUESTION 19
Bid-rigging scheme occurs when:

NEW QUESTION 20
________ increase assets and expenses and/or decrease liabilities and/or equity

NEW QUESTION 21
____________ is a summary of the account balances carried in a ledger.

NEW QUESTION 22
__________ is required if and when officers, executives or other persons in trusted positions become subjects of a criminal indictment.

NEW QUESTION 23
__________ inventory and other assets is relatively common way for fraudsters to remove assets from the books before or after they are stolen.

NEW QUESTION 24
The more power a person has over the bidding process, the more likely the person can influence the selection of a supplier.

NEW QUESTION 25
According to SAB 104, for the revenue to be typically considered realized or realizable and earned, which of the following criteria is NOT met:

NEW QUESTION 26
Larceny is the scheme in which an employee simply takes inventory from the company premises without attempting to conceal it in the books and records.

NEW QUESTION 27
The price of an asset on which the asset is selling at on the open market in a transaction between a willing buyer and a wiling seller is called:

NEW QUESTION 28
A person is said to be in ________ act, when the business which he transacts, or the money or property which he handles, is not for his own benefit, but for another person:

NEW QUESTION 29
The person or persons who have access to __________ are often the targets of unethical vendors seeking an advantage in the process.

NEW QUESTION 30
When an incorrect total is carried from the journal to the ledger or from ledger to the financial statements, this method is called:

NEW QUESTION 31
Forced reconciliation of the account says:

NEW QUESTION 32
Which of the four basic measures, if properly installed and implemented may help prevent inventory fraud?

NEW QUESTION 33
Assets that are long-lived and that differ from property, plant and equipment hat has been purchased outright or acquired under a capital lease are:

NEW QUESTION 34
What is sometimes used to overcome well-designed internal controls of a victim company?

NEW QUESTION 35
According to fraud tree, cash has three following schemes: