(True and False)
1. Data-driven fraud detection can pay large dividends and is an effective way to reduce the cost of fraud in any organization.

2. Unexplained changes are common in financial statements.

3. Balance sheets must be converted to change statements before they can be used in detecting fraud.

4. Vertical analysis is a more direct method than horizontal analysis in focusing on changes in financial statements from one period to another.

5. Vertical analysis is a useful detection technique because percentages are easily understood.

6. The z-score calculation is the best way to stratify data.

7. A single symptom (red flag) is almost always enough information to identify the type of fraud scheme occurring.