1. When a fraudster concludes that his or her fraudulent act is justified because of some prior action by the victim that caused harm to the fraudster, this is called:a. Conceptualizationb. Remediationc. Retributiond. Rationalization2. All of the following are among the top five personal characteristic “ red flags” of fraud except:a. A deep- seeded desire for revengeb. Feeling of being underpaidc. Living beyond one’s meansd. Undue family and peer pressure3. All of the following are among the top five organizational characteristic “red flags” of fraud except:a. No clear lines of authorityb. No separation of duties between accounting functionsc. Placing too much trust in key employeesd. An autocratic leadership style4. The most common type of financial statement fraud is:a. Capitalizing expensesb. Deferring goodwill write- offsc. Overstatement of revenuesd. Manipulation of ending inventory5. The fraud diamond adds which of the following elements to the fraud triangle?a. Capabilityb. Sensibilityc. Accountabilityd. All of the above6. When an attorney argues that “Even if my client was motivated and had the opportunity to commit the crime, he does not have the capability to carry it out,” this is known as what type of defense?a. Rationalization defenseb. Knucklehead defensec. Appeal to the compassion of the juryd. None of the above7. In the fraud scale, the fraud triangle is modified by re-moving rationalization and replacing it with:a. Balanceb. Behavioral consistencyc. Integrityd. Mediation8. According to economic theory, what motivates an individual to commit fraud?a. Fearb. Coercionc. Peer pressured. Self interest9. Which of the following is not a component of the formula for the calculus of fraud?a. Perceived gravity of the lossb. Rewardc. Impact on the victimd. Probability of getting caughtView Solution: 1 When a fraudster concludes that his or her fraudulent
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