Fundamentals of Financial Accounting
5th Edition
ISBN: 9780078025914
Author: Fred Phillips Associate Professor, Robert Libby, Patricia Libby
Publisher: McGraw-Hill Education
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Question
Chapter 5, Problem 1MC
To determine
To find: The correct option, the option which is not an element of fraud triangle
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A weak internal control system is which element in the fraud triangle?a. Motiveb. Attitudec. Opportunityd. Rationalization
Which of the following is not an element of the fraudtriangle?a. Opportunityb. Control environmentc. Incentived. Rationalization
Explain what is meant by the fraud triangle
Chapter 5 Solutions
Fundamentals of Financial Accounting
Ch. 5 - Prob. 1QCh. 5 - Prob. 2QCh. 5 - Prob. 3QCh. 5 - Prob. 4QCh. 5 - Prob. 5QCh. 5 - What aspect(s) of the Sarbanes-Oxley Act might...Ch. 5 - Prob. 7QCh. 5 - What are the five components of an internal...Ch. 5 - Prob. 9QCh. 5 - Why is it a good idea to assign each task to only...
Ch. 5 - Prob. 11QCh. 5 - Prob. 12QCh. 5 - Prob. 13QCh. 5 - Prob. 14QCh. 5 - Prob. 15QCh. 5 - Prob. 16QCh. 5 - What is the primary internal control goal for cash...Ch. 5 - Prob. 18QCh. 5 - Prob. 19QCh. 5 - Prob. 20QCh. 5 - Prob. 21QCh. 5 - Prob. 22QCh. 5 - Prob. 23QCh. 5 - Prob. 24QCh. 5 - Prob. 1MCCh. 5 - Prob. 2MCCh. 5 - Prob. 3MCCh. 5 - Prob. 4MCCh. 5 - Which of the following internal control principles...Ch. 5 - Prob. 6MCCh. 5 - Prob. 7MCCh. 5 - Prob. 8MCCh. 5 - Prob. 9MCCh. 5 - Prob. 10MCCh. 5 - Prob. 5.1MECh. 5 - Prob. 5.2MECh. 5 - Prob. 5.3MECh. 5 - Prob. 5.4MECh. 5 - Prob. 5.5MECh. 5 - Prob. 5.6MECh. 5 - Prob. 5.7MECh. 5 - Prob. 5.8MECh. 5 - Prob. 5.9MECh. 5 - Prob. 5.10MECh. 5 - Prob. 5.11MECh. 5 - Prob. 5.12MECh. 5 - Prob. 5.13MECh. 5 - Prob. 5.14MECh. 5 - Prob. 5.15MECh. 5 - Prob. 5.16MECh. 5 - Identifying Internal Control Principle and...Ch. 5 - Prob. 5.2ECh. 5 - Prob. 5.3ECh. 5 - Prob. 5.4ECh. 5 - Prob. 5.5ECh. 5 - Prob. 5.6ECh. 5 - Prob. 5.7ECh. 5 - Prob. 5.8ECh. 5 - Prob. 5.9ECh. 5 - Prob. 5.10ECh. 5 - Prob. 5.1CPCh. 5 - Prob. 5.2CPCh. 5 - Prob. 5.3CPCh. 5 - Prob. 5.4CPCh. 5 - Prob. 5.1PACh. 5 - Prob. 5.2PACh. 5 - Prob. 5.3PACh. 5 - Prob. 5.4PACh. 5 - Prob. 5.1PBCh. 5 - Prob. 5.2PBCh. 5 - Prob. 5.3PBCh. 5 - Prob. 5.4PBCh. 5 - Recording Transactions and Adjustments,...Ch. 5 - Prob. 5.1SDCCh. 5 - Prob. 5.2SDCCh. 5 - Ethical Decision Making: A Real-Life Example When...Ch. 5 - Ethical Decision Making: A Mini-Case You are an...Ch. 5 - Accounting for Cash Receipts, Purchases, and Cash...
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Similar questions
- The three elements of the fraud triangle include incentive, opportunity, and rationalization. (T/F)arrow_forwardWhich of the following conditions is not necessary for a fraud to occur?Select one:a. Explanationb. Pressurec. Opportunityd. Rationalizationarrow_forwardHow do you understand the Fraud Triangle? Please provide explanation.arrow_forward
- Fraud investigators refer to what elements as being part of the fraud triangle? Multiple Choice Motive, incentive, opportunity. Incentive, opportunity, rationalization. Motive, means, rationalization. Means, motive, opportunity.arrow_forwardWhat is the most important factor in the fraud triangle?arrow_forwardGive specific examples of fraud risk factors - incentives, opportunities, and attitudes/rationalization.arrow_forward
- The fraud triangle asserts that there are three factors that must exist for a person to commit fraud; these factors are opportunity, pressure, and rationalization. Group of answer choices True Falsearrow_forwardThe fraud triangle identifies incentives, opportunities, and rationalizations as the three elements associated with frauds. Describe how these elements are related to the occurrence of fraud.arrow_forwardWhich of the following is not a principle relating to risk assessment? a. Identifies and analyses risks and respond to changes b. Designing the information systems c. Specifies objectives with sufficient clarity d. Considers the potential for fraud in assessing risksarrow_forward
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