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andre [41]
3 years ago
6

Sally Lauren is the external auditor for Modus Industries, a public company that manufactures disk drives. As she analyzes the n

umbers, she finds that the quick ratio, which has typically remained consistent, increased from 1.7 to 2.3 over the previous year. What type of financial statement fraud scheme could be occurring?
Mathematics
1 answer:
ololo11 [35]3 years ago
6 0

Answer:

Fictitious account receivable

Step-by-step explanation:

Fictitious account receivables involves creating fake accounts or fake sales for the purpose of having the company appear to be in a better financial condition. This can be by creating fake invoices for fake customers.

These malicious activities are carried out by employees for the purpose of having an increase in sales commission.

The quick ratio that has suddenly increased from 1.7 to 2.3 can be due to the creation of these fictitious accounts and sales.

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Distribute.

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3 years ago
Events A and B are independent. Find the missing probability. Enter your answer as a decimal rounded to two places.
Leya [2.2K]

ANSWER

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EXPLANATION

If A and B are independent events, then

P(A and B)=P(A)×P(B)

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Multiply both sides by;

\frac{5}{2}

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\frac{3}{4}  =P(B)

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P(not \: B) =  \frac{1}{4}

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Step-by-step explanation:

B

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