Question 32Which of the following is LEAST indicative of fraudulent activity. Numerous cash refunds made to different people at the same PO box. Several credit memos cannot be located to support reductions in customers' balances. Bank reconciliation has no outstanding checks or deposits in transit older than fifteen days. Three people were absent the day the auditors handed out paychecks and these checks were not picked up until four weeks later.

Fraudulent Activity is defined as any unlawful or illegally intended act or omission that deceives,…

Answered: ch of the following is LEAST indicative…

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter7: Internal Control And Cash

Section: Chapter Questions

Problem 7.18EX

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Question 32

Which of the following is LEAST indicative of fraudulent activity.

		Numerous cash refunds made to different people at the same PO box.
		Several credit memos cannot be located to support reductions in customers' balances.
		Bank reconciliation has no outstanding checks or deposits in transit older than fifteen days.
		Three people were absent the day the auditors handed out paychecks and these checks were not picked up until four weeks later.

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