Identification: For each of the following statements, indicate the term it best

Question

Identification: For each of the following statements, indicate the term it best describes or typifles by placing an "X" in the appropriate column. You should X" each column only one tme. Errors LareenyWhiteEmbezzlement orangement collar crime dfalcation Fraud An employee in a supermarket takes home bags of fresh fruit each day without paying for them The controller changed the journal entry for estimating bad debt expense to a smaller number to hide the poor results from extending credit to high- risk customers. This made income materially higher than it otherwise would have been Misdeeds done by people who steal with a pencil or computer A type of fraud involving employees or nonemployees wrongfully taking money or property entrusted to their care A bookkeeper inadv recorded depreciation by transposing numbers in a journal entry 10

Explanation / Answer

1. LARCENY
2. WHITE COLLAR CRIME
3. MANAGEMENT FRAUD
4. EMBEZZLEMENT OR DEFALCATION
5. ERROR

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