Question 1

___________ should be examined to see that all are properly documented and that inappropriate payments have not been made to employees.

Options :

A : Payable cash

B : Cash advances

C : counterfeit checks

D : Payable checks

Answer: B

Question 2

The principal way to detect omitted credits from books of account is through:

Options :

A : Forced Balance

B : Trend analysis

C : Expense account

D : None of all

Answer: B

Question 3

In physical tampering prevention technique, hidden images can be seen only when the check is held at an angle through:

Options :

A : High-resolution sprays

B : Holographic safety inks

C : Watermark backers

D : Chrome coloring

Answer: C

Question 4

Which of the following method is NOT used to detect conflicts of interest?

Options :

A : Tips & Complaints

B : Review of vendor ownership files

C : Underbillings of assets

D : Interviews with purchasing personnel

Answer: C

Question 5

Which of the following is NOT the reason why senior management will overstate business statement?

Options :

A : Comply with debit covenants

B : Meet personal performance criteria

C : Trigger performance related compensation

D : Show a pattern of growth to support sale of a business

Answer: A