Question

This is an exercise concerning financial reporting misstatements, not employee theft.

Required:
Give an example of an error or fraud that would misstate financial statements to affect the accounts as follows, taken one case at a time.
a. Overstate an asset, under state another asset.
b. Overstate an asset, overstate shareholder equity.
c. Overstate an asset, overstate revenue.
d. Overstate an asset, understate an expense.
e. Overstate a liability, overstate an expense.
f. Understate an asset, overstate an expense.
g. Understate a liability, understate an expense.



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  • CreatedJanuary 09, 2015
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