Which of the following is false concerning \"topside\" journal entries used to c

Question

Which of the following is false concerning "topside" journal entries used to commit financial statement fraud?

Question 13 options:

All of the above are false

Entries are recorded directly to the subsidiary ledger

Upper management usually records the journal entry

The journal entry may be recorded after normal business hours.

All of the above are false

Entries are recorded directly to the subsidiary ledger

Upper management usually records the journal entry

The journal entry may be recorded after normal business hours.

Explanation / Answer

Entries are recorded directly to the subsidiary ledger

ANS: B: Correct; topside journal entries are recorded directly to a summary journal or general ledge

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