Question: Answer the five question in detail and briefly As this week's marked questions, answer the following questions: 1. What is an example of perceived opportunity
As this week's marked questions, answer the following questions: 1. What is an example of perceived opportunity as one of the three elements causing a person to commit fraud? 2. What is an example of rationalization as one of the three elements causing a person to commit fraud? 3. What is an example of incentive as one of the three elements causing a person to commit fraud? 4. What are the functions of the internal control? 5. The vice president of finance asks the accounts payable (AP) clerk to write a check in the name of the president for $10,000. He and the president will sign the check (two signatures needed on a check of this size). He further ipstructs the AP clerk not to disclose this check to her immediate supervisor. What should the AP clerk do? Should she prepare the check? Should she inform her immediate supervisor? Discuss with Internal controls in mind
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