CJ 530-Robin Ortiz- Journal-Assess a Scenario

32 33 Which of the following is a responsibility of the SEC? Investigating violations of securities law statutes Investigating violations of anti-trust statutes Instituting regulations for workplace safety Instituting regulations for employee information privacy The financial crisis of 2007-2010 was the main cause of the Dodd-Frank Act. False True 34 Fatty's Fish Fry shop was caught disseminating false advertising when it made a claim that its main competitor was selling fish laced with poison and mercury. Which of the following is true? Fatty's can be stopped from making false claims and may be sued by the injured competitor. Fatty's can only be enjoined from making false statements about its competitor. Fatty's can only be sued on criminal charges by its competitor under the Lanham Act. Fatty's is guilty of failure to disclose.

24

Required information Chapter 04 Problem 4-31 LO 4-6, 4-9 [The following information applies to the questions displayed below.] Management fraud (e.g., fraudulent financial reporting) is a relatively rare event. However, when it does occur, the frauds (e.g., Enron and World Com) can have a significant effect on shareholders, employees, and other parties. The PCAOB's AS 2401, Consideration of Fraud in a Financial Statement Audit, provides the relevant guidance for auditors. Chapter 04 Problem 4-31 Part b LO 4-6, 4-9 b. Select the three conditions that are generally present when fraud occurs: Note: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Management or other employees have an incentive or are under pressure that provides a reason to commit fraud. Circumstances exist that provide an opportunity for a fraud to be carried…

Required information Chapter 04 Problem 4-31 LO 4-6, 4-9 [The following information applies to the questions displayed below.] Management fraud (e.g., fraudulent financial reporting) is a relatively rare event. However, when it does occur, the frauds (e.g., Enron and WorldCom) can have a significant effect on shareholders, employees, and other parties. The PCAOB's AS 2401, Consideration of Fraud in a Financial Statement Audit, provides the relevant guidance for auditors. Chapter 04 Problem 4-31 Part b LO 4-6, 4-9 b. Select the three conditions that are generally present when fraud occurs: Note: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Management or other employees have an incentive or are under pressure that provides a reason to commit fraud. Circumstances exist that provide an opportunity for a fraud to be carried…

The Sarbanes-Oxley Act (SOX) contains all of the following titles that have a direct impact on forensic accounting and fraud except: Group of answer choices   Title 4 prohibits personal loans and requires certain financial disclosures. Title 11 provides a possible 25-year prison sentence for anyone altering, destroying, mutilating, or concealing a record, document, or other object (or otherwise impeding) for an official proceeding. Title 9 increases maximum prison sentences for mail and wire fraud from 5 to 20 years. Willfully and knowingly certifying financial reports not in compliance with the Act is now a criminal offense. Title 4 prohibits personal loans and requires certain financial disclosures.

Which one(s) of the following most likely represent(s) a source of unsystematic risk? I. COVID-19 II. Russian assault on Ukraine III. A labor strike at an automobile company. III only I and II I, II, and III II only I only

! Required information Chapter 04 Problem 4-31 LO 4-6, 4-9 [The following information applies to the questions displayed below.] Management fraud (e.g., fraudulent financial reporting) is a relatively rare event. However, when it does occur, the frauds (e.g., Enron and WorldCom) can have a significant effect on shareholders, employees, and other parties. The PCAOB's AS 2401, Consideration of Fraud in a Financial Statement Audit, provides the relevant guidance for auditors. Chapter 04 Problem 4-31 Part c LO 4-6, 4-9 c. Select the items that are most likely to be objectives of the "brainstorming" meeting that is held among the engagement team members: Note: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. ?Share insights about the entity and its environment and the entity's business risks. ? Provide an opportunity for the team…

Which one(s) of the following most likely represent(s) a source of unsystematic risk? I. COVID-19 II. Russian assault on Ukraine III. A labor strike at an automobile company. III only I and II I, II, and III Il only I only

5% @ uo 11:12 * JAWWAL Ilı. Done 5743df45a947593d..._J Q1- Discuss fraud and the principles of internal control. Q2- appeared as follows on December 31, 2016: The petty cash fund of $200 for George Company Cash $59.40 Petty cash vouchers Freight in Postage Balloons for a special occasion $27.60 40.00 68.00 Instructions 1. Briefly describe when the petty cash fund should be replenished. Prepare in general journal form the entry to replenish the fund. 2. On December 31, the office manager gives instructions to increase the petty cash fund by $50. Make the appropriate journal entry. 3.

01-10 11 12 13 14 15 16 17 18 19 20 21-30 31-40 41 Question 16 Wrongfully obtaining and acquiring someone else's personal information and using it for your personal gain is identity theft. Your answer True False Clear answer Back Next Pause test