Question

Indicators of a possible asset or income concealment include all of the following except:

Answer 1

Answer:

The correct answer is D

Explanation:

The following are the possible assets or income concealment and that are as follows:

1.Travel to off-shore the tax havens or the locations which allow secret bank accounts

2. Damaged, missing or inaccurate records.

3. Unusual or rapid or fast reduction in assets

4. Unusually unexplainable or large payments to the vendors

5. Rise in the operating losses which are not explained by the economic factors.

6. Various transactions are made in cash, that are normally made on account.