Accounts receivable that never get collected are a common sign of fictitious revenue schemes.

• A.True
• B.False

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Warner is part of management at ABC Corporation. He has been asked to implement measures to help prevent fraudulent billing schemes. Which of the following measures would likely be MOST EFFECTIVE?

• A.Using an external vendor to negotiate procurement contracts
• B.Combining the purchasing and payment functions within a single department
• C.Enforcing competitive bidding from potential vendors
• D.Requiring all fraud tips to be reported to employees' direct supervisors

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Hannah is a manager at a financial institution. To safeguard the bank and its customers from electronic funds transfer (EFT) fraud, Hannah is implementing several preventive measures. Which of the following is NOT a measure Hannah should take to prevent EFT fraud?

• A.Mail PINs and other associated account information together to reduce the chance of those items being lost during transit.
• B.If a customer reports the loss or theft of an access device, then cancel the existing card, PIN, or other form of access and issue a new one.
• C.Send a welcome letter to new customers to determine if the address submitted on the account application is valid.
• D.Separate the duties of bank employees so that the responsibilities for the issuance of access devices are separate from the issuance of PINs.

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In which approach, fraudsters produce whatever financial statements they wish, perhaps using just a typewriter or a personal computer.

• A.Outside accounting system
• B.Playing the accounting
• C.Organized accounting
• D.Beating accounting

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Which of the following is NOT the aspect of inventory purchase?

• A.inventory for the year 2 will be much greater than year 1.
• B.might be some fraud scheme in inventory.
• C.Increase sales in year 2 are unexpected and purchase of inventory does not keep pace with the sales.
• D.Inventory purchases purposely increase in year 1 only to be liquidated in year 2.

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