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 is most likely to reduce instances of unethical corporate behavior?

Allowing management unchecked authority over accounting records

Reducing oversight of financial reporting processes

Increasing pressure on employees to meet unrealistic targets

Implementing strong internal controls and ethical guidelines

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Verified step by step guidance

Understand the concept of unethical corporate behavior: Unethical corporate behavior refers to actions by a company or its employees that violate ethical standards, such as falsifying financial records or engaging in fraud.

Recognize the role of internal controls: Internal controls are processes and procedures designed to ensure the accuracy and reliability of financial reporting, safeguard assets, and promote compliance with laws and regulations.

Identify the importance of ethical guidelines: Ethical guidelines provide a framework for employees and management to make decisions that align with the company's values and ethical standards, reducing the likelihood of unethical behavior.

Evaluate the options provided in the problem: Analyze each option to determine whether it would increase or decrease the likelihood of unethical corporate behavior. For example, unchecked authority over accounting records or reducing oversight would likely increase unethical behavior, while strong internal controls and ethical guidelines would reduce it.

Conclude that implementing strong internal controls and ethical guidelines is the most effective way to reduce instances of unethical corporate behavior, as it promotes accountability, transparency, and ethical decision-making within the organization.