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Question 1: A company accountant writes a cheque for $10,000 and gives it to a customer. The customer changes the 0's to 8's and banks the cheque. The fraud is not detected by the bank teller. What should happen next?
Select one:
Option a. A variance of $8,888 is detected in the bank reconciliation and added to the Bank Rec report. No further action is needed.
Option b. A variance of $8,888 is detected in the bank reconciliation and added to the Bank Rec report. The bank is asked to investigate and repay the money.
Option c. A variance of $8,888 is detected in the bank reconciliation and subtracted from the cash at bank account. The company refers the customer to the police.
Option d. A variance of $8,888 is detected by the bank and the bank claims the refund on their insurance
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