Which of the following are examples of the misappropriation of assets? A. An emp

Question

Which of the following are examples of the misappropriation of assets? A. An employee theft of inventory B. A kickback scheme in the purchasing function C. An employee overstates an expense reimbursement after a company trip D. All of the above Which of the following are examples of the misappropriation of assets? A. An employee theft of inventory B. A kickback scheme in the purchasing function C. An employee overstates an expense reimbursement after a company trip D. All of the above A. An employee theft of inventory B. A kickback scheme in the purchasing function C. An employee overstates an expense reimbursement after a company trip D. All of the above

Explanation / Answer

Answer:- The examples of the misappropriation of assets:-All of the above (Option D).

Explanation:- Asset misappropriation fraud happens when people who are entrusted to manage the assets of an organisation steal from it. Asset misappropriation fraud involves third parties or employees in an organisation who abuse their position to steal from it through fraudulent activity. It can also be known as insider fraud. Ultimately, it’s the cash flow of the business that suffers.

Asset misappropriation fraud could include any of the following:

1)-Embezzlement, where accounts have been manipulated or false invoices have been created.

2)-Deception by your employees.

3)-False expense claims.

4)-Payroll fraud, where payments have been diverted or fictitious employees have been created.

4)-Data,inventory theft or intellectual property theft.

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