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NEW QUESTION 27
When expenses used to produce income- all of them- should be matched in a consistent manner against that income, this is referred to:

A. EquityB. ExpenseC. Financial recordD. Accrual basis accounting

Answer: D

 

NEW QUESTION 28
Placing any restriction in the solicitation documents that tend to restrict competition is called prebid solicitation.

A. FalseB. True

Answer: B

 

NEW QUESTION 29
________ increase assets and expenses and/or decrease liabilities and/or equity

A. DebitB. Journal EntriesC. CreditD. None of all

Answer: A

 

NEW QUESTION 30
According to SAB 104, for the revenue to be typically considered realized or realizable and earned, which of the following criteria is NOT met:

A. Timings have been metB. Services has been renderedC. Persuasive evidence of an arrangement existsD. Collectability is reasonably assured

Answer: A

 

NEW QUESTION 31
In ___________ scheme, an employee creates false vouchers or submits false invoices to the employer.

A. Voucher handlingB. Cash generatingC. Sale requisitionD. Purchase requisition

Answer: B

Explanation:
Section: Fraud Prevention and Deterrence

 

NEW QUESTION 32
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