Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

6. Internal Controls and Reporting Cash

Fraud and the Fraud Triangle

Financial Accounting

6. Internal Controls and Reporting Cash

Fraud and the Fraud Triangle

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Multiple Choice

Which of the following types of information do banking institutions primarily use to help detect fraudulent transactions?

Supplier credit ratings

Inventory turnover ratios

Transaction patterns and customer account history

Employee payroll records

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Verified step by step guidance

Understand the context of the question: Banking institutions aim to detect fraudulent transactions by analyzing patterns and historical data related to customer accounts.

Recognize that supplier credit ratings, inventory turnover ratios, and employee payroll records are not directly relevant to detecting fraud in customer transactions. These are more applicable to business operations and financial analysis.

Focus on transaction patterns and customer account history, as these provide insights into normal behavior and help identify anomalies that could indicate fraud.

Consider how banks use tools like algorithms and machine learning to analyze transaction patterns, flagging unusual activities such as large withdrawals, unexpected purchases, or transactions in unfamiliar locations.

Conclude that transaction patterns and customer account history are the primary types of information used by banking institutions to detect fraudulent transactions, as they directly relate to customer behavior and account activity.