In one of the cases in the textbook, Eddie Antar, the CEO of the Crazy Eddie electronic stores in the New Jersey area, took fraud to a higher level. The company started out as a small, family-owned business, but Eddie soon found that he could really clean up by taking his company public and making a fortune off the sale of stock. However, in order to sustain his financial success, he turned to cooking the books. Unfortunately for Eddie, his scheme eventually came to an end. What financial statement fraud scheme did Eddie commit?

Question

Ronnie Pennington

Business

17 December, 11:56

In one of the cases in the textbook, Eddie Antar, the CEO of the Crazy Eddie electronic stores in the New Jersey area, took fraud to a higher level. The company started out as a small, family-owned business, but Eddie soon found that he could really clean up by taking his company public and making a fortune off the sale of stock. However, in order to sustain his financial success, he turned to cooking the books. Unfortunately for Eddie, his scheme eventually came to an end. What financial statement fraud scheme did Eddie commit?

+5

Answers (1)

Know the Answer?

Nora · Answer 1

all of these are financial statement fraud schemes used by Eddie Antar.

Explanation:

Based on the answers provided within the question it can be said that the all of these are financial statement fraud schemes used by Eddie Antar. This is because all three of these options, Overstatement of inventory, Improper disclosures, Fictitious revenues, are used in unison when "cooking the books" in order to adjust the actual profit margins.