Evaluate the following situations. Identify the situation that does not match the definition of assets misappropriation? Multiple Choice A sales associate uses the company's car for personal use. The treasurer of the company makes an unauthorized wire transfer from the organization's bank to a personal account in Grand Cayman. The chief financial officer of the company falsely adds $20 million to the accounts receivable and revenue accounts. The president of the company utilizes the organization's cash to add a floor to her 15,000 square foot house. A warehouse employee takes home two units of electronic entertainment inventory each week without authorization.

Evaluate the following situations. Identify the situation that does not match the definition of assets misappropriation? Multiple Choice A sales associate uses the company's car for personal use. The treasuret of the company makes an unauthorized wire transfer from the organization's bank to a personal account in Grand Cayman. The chief financial officer of the company folsely adds $20 million to the accounts recelvable and revenue accounts. The president of the compary utilizes the organization's cash to add a floor to her 15,000 square foot house; A warohouse employee takes home two units of electronic entertainment inventory each week without authorization. Allowance for Doubtful Accounts is considered a(n): Multiple Choice contra-liability. expense. contra-asset. asset. liability. Bad debt expense should Multiple Choice appear on the income statement as part of selling expenses. appear on the cash flow statement. not appear in the financial statements. appear on the income statement as a contra-revenue. appear on the balance sheet as a contra-asset. Who is responsible for making sure the appropriate internal controls are present within an organization? Multiple Choice Executive management (e.g., CEO, CFO, etc). Regulatory Agencies. Risk functions (e.g. Internal Audit, Compliance, ERM, etc.). People performing and managing day-to-day activities (e.g., frontline employees, supervisors, managers, etc). Oversight Bodies (e.g., Board of Directors, etc)