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 factors related to the fraud triangle could potentially cost you a job offer if identified by an employer?

Demonstrating a history of rationalizing unethical behavior

Showing a commitment to ethical standards

Participating in fraud prevention training

Having strong internal controls experience

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Verified step by step guidance

Understand the fraud triangle concept: The fraud triangle consists of three elements that contribute to fraudulent behavior—opportunity, pressure (or incentive), and rationalization. Rationalization refers to the mindset or justification a person uses to commit unethical actions.

Analyze the options provided in the question: The goal is to identify which factor aligns with the fraud triangle and could negatively impact a job offer.

Evaluate 'Demonstrating a history of rationalizing unethical behavior': This directly relates to the rationalization element of the fraud triangle. Employers may view this as a red flag because it suggests a tendency to justify unethical actions, which could lead to fraud.

Evaluate 'Showing a commitment to ethical standards': This demonstrates positive behavior and is unlikely to cost a job offer. It reflects integrity and adherence to ethical practices.

Evaluate 'Participating in fraud prevention training' and 'Having strong internal controls experience': Both of these options indicate proactive measures to prevent fraud and are considered strengths rather than liabilities in the context of employment.