12. Which is a method to conceal asset misappropriation? (Points : 2)

Writing inventory down to market value

Matching purchase orders to receiving reports

Restricting asset transfers

Ordering surplus merchandise

Question 13.13. Mary is a bookkeeper at a small auto repair shop. She also manages all other office work. The repair shop has a contract to repair city and county vehicles. The repair shop also extends credit to several other businesses .Mary is responsible for billing, recording accounts receivable, and receivng payments. Mary is very happy in her job because she can take cash from customer payments whenevery she is a little short. All she has to do to conceal this is to alter one or two accounts. Which type of fraud is being committed? (Points : 2)

Lapping

Fictitious revenue

Force balancing

Unrecorded revenue

Question 14.14. The billing supervisor in an industrial supply warehouse has authorization to write-off uncollectible accounts. He knows that if he writes a memo to put into the customers file, there will be no further review. The opportunity exists for what type of fraud scheme in this situation? (Points : 2)

Receivables lapping

Payment theft

Understated sales

Altering records