For each of the following abnormalities indicate the type of error or fraud that might have occurred
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Question:
For each of the following “abnormalities” indicate the type of error or fraud that might have occurred and how would you resolve your doubts.
- December 2019 sales are 12 percent higher than December 2018 sales.
- Revenue from scarp sales has declined by 45 percent this year.
- Inventory turnover has declined from 5.0 times to 2.5 times during the current year, while sales have increased by 25 percent.
- AR turnover decreased from 12 times to 7 times during the current year, while sales increased by 40 percent.
- Repairs and maintenance expense, as a percentage of sales, has increased from 6 percent to 12 percent during the current year.
Related Book For
Fraud examination
ISBN: 978-0538470841
4th edition
Authors: Steve Albrecht, Chad Albrecht, Conan Albrecht, Mark zimbelma
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