All of the following are basic methods used to prove corrupt payments in corruption schemes EXCEPT:

• A.Secretly infiltrating ongoing transactions
• B.Reviewing the subject's tax records
• C.Identifying and tracing payments through audit steps
• D.Turning an inside witness

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________, one of the Fraud synonyms implies that deceiving so thoroughly as to obscure the truth:

• A.Delude
• B.Beguile
• C.Mislead
• D.Deceive

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

• A.Financial statement
• B.Income statement
• C.General journal
• D.Balance sheet

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Which of the following statements is TRUE with regard to the income statement?

• A.Gross profit is equal to revenues less operating expenses.
• B.Net profit is the difference between total sales and the cost of goods sold.
• C.A company's cash balance is usually the first line item listed.
• D.Gross revenue is the total amount of sales before deductions are applied.

Correct Answer: B

Explanation/Reference: https://www.zoho.com/books/guides/what-is-an-income-statement.html#:~:text=The%20income%20statement%20shows%20a,on%20a%20good%20financial%20footing

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Employees steal an incoming payment and then place the incoming funds in an interest bearing account for:

• A.Converting stolen checks
• B.Short-term skimming
• C.Concealing the fraud
• D.All of the above

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