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11. In balancing the risks and benefits that are part of every ethical decision, managers receive guidance from each of the following except

a.

justice

b.

self interest

c.

risk minimization

d.

proportionality

12.Cash larceny involves

a.

stealing cash from an organization before it is recorded.

b.

stealing cash from an organization after it has been recorded.

c.

manufacturing false purchase orders, receiving reports, and invoices.

d.

a clerk paying a vendor twice for the same products and cashing the reimbursement check issued by the vendor.

13.Employee fraud involves three steps. Of the following, which is not involved?

a.

concealing the crime to avoid detection

b.

stealing something of value

c.

misstating financial statements

d.

converting the asset to a usable form

14.What fraud scheme is similar to the "borrowing from Peter to pay Paul" scheme?

a.expense account fraud

b.kiting

c.lapping

d.transaction fraud

15.A shell company fraud involves

a.

stealing cash from an organization before it is recorded.

b.

stealing cash from an organization after it has been recorded.

c.

manufacturing false purchase orders, receiving reports, and invoices.

d.

a clerk paying a vendor twice for the same products and cashing the reimbursement check issued by the vendor.

16.When certain customers made cash payments to reduce their accounts receivable, the bookkeeper embezzled the cash and wrote off the accounts as uncollectible. Which control procedure would most likely prevent this irregularity?

a.

segregation of duties

b.

accounting records

c.

accounting system

d.

access controls

17.Business ethics involves

a.

how managers decide on what is right in conducting business

b.

how managers achieve what they decide is right for the business

c.

both a and b

d.

none of the above

18.All of the following are conditions for fraud except

a.

false representation

b.

injury or loss

c.

intent

d.

material reliance

19.The four principal types of fraud include all of the following except

a.

bribery

b.

gratuities

c.

conflict of interest

d.

economic extortion

20.Which of the following is not an issue to be addressed in a business code of ethics required by the SEC?

a.

Conflicts of interest

b.

Full and Fair Disclosures

c.

Legal Compliance

d.

Internal Reporting of Code Violations

e.

All of the above are issues to be addressed

-it

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