Which of the following statements is NOT true?

a. Accounting errors are usually spread evenly throughout a data set.

b. Traditional auditing methods are more suited to finding errors than fraud.

c. Accounting anomalies indicate fraud has occurred or is occurring.

d. Fraud investigation involves determining who committed the fraud, the schemes used, and how much money or assets were taken.

Question

Taylor Mckenzie

Business

16 June, 16:25

Which of the following statements is NOT true?

a. Accounting errors are usually spread evenly throughout a data set.

b. Traditional auditing methods are more suited to finding errors than fraud.

c. Accounting anomalies indicate fraud has occurred or is occurring.

d. Fraud investigation involves determining who committed the fraud, the schemes used, and how much money or assets were taken.

+4

Answers (1)

Know the Answer?

Ada Solis · Answer 1

c. Accounting anomalies indicate fraud has occurred or is occurring.

Explanation:

Anomaly is a term describing the incidence when the actual result under a given set of assumptions is different from the expected result ... In finance, two common types of anomalies are market anomalies and pricing anomalies. Market anomalies are distortions in returns that contradict the efficient market hypothesis.