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Which is not a reason for problems occurring in financial

Assignment Help Managerial Accounting
Reference no: EM132999215

Problem 1: Which of the following is NOT a reason for problems occurring in the financial statements?

a. Fraud

b. Disagreement

c. Errors

d. Internal controls

Problem 2: All of the following are likely to be methods that could be used to conduct fraud EXCEPT

a. Creating fictitious invoices.

b. Overstating liabilities.

c. Not recording various expenses.

d. Overstating accounts receivables.

Problem 3: Which of the following is NOT an objective of the accounting system?

a. Make sure a company values transactions properly.

b. Make sure a company only records valid transactions.

c. Make sure a company only records profitable transactions.

d. Make sure a company records transactions in the proper time period.

Reference no: EM132999215

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