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Question 1

A typical issue involving material and fraud would be:

AFraudulent statement

BMisappropriations

CCivil lawsuit

DQuality control

Answer : B

Question 2

The difference between assets and liabilities is called:

AEquity

BExpense

CRevenue

DIncome statement

Answer : A

Question 3

Which of the following can constitute a bribe, even if the illicit payment is never actually made?

AOffering a payment

BCorruption in payment

Ckickback payment

DOverbilling in payment

Answer : A

Question 4

According to Marshall, ______ are probable future economic benefits obtained or controlled by a particular entity as a result of past transactions or events.

AAssets

BLiabilities

CCredentials

DNone of above

Answer : A

Question 5

Which of the following are the classifications for the Corruption?

ABribery, economic extortion, illegal gratuities and conflicts of interest

BCorruption, bribery, economic extortion, conflicts of interest

COverbilling, bribery, bid-ridding and illegal gratuities

Deconomic extortion, bribery, illegal gratuities and corruption

Answer : A

Question 6

In which phase of competitive bidding process, fraudsters attempt to influence the selection of a contractor by restricting the pool of competitors from whom bids are sought?

ANeed recognition

BSolicitation

CFalse specification

DSubmission

Answer : B

Question 7

The price of an asset on which the asset is selling at on the open market in a transaction between a willing buyer and a wiling seller is called:

AAbsolute value

BFair value

CCost value

Dmaterial value

Answer : B

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