Answered: 1) The most damaging type of fraud, per…

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter2: The Auditor’s Responsibilities Regarding Fraud And Mechanisms To Address Fraud: Regulation And Corporate Governance

Section: Chapter Questions

Problem 15CYBK

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1) The most damaging type of fraud, per event, is

A) corruption.

B) misappropriation of assets.

C) fraudulent financial reporting.

D) grand theft.

2) The most common type of fraud, in frequency, is

A) corruption.

B) misappropriation of assets.

C) fraudulent financial reporting.

D) Fortnite fraud.

3) Fraudulent financial reporting is ________ likely than corruption. The amounts involved in corruption are much ________ than fraudulent financial reporting.

A) less; more

B) less; less

C) more; less

D) more, more

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