The heart of book keeping system is the ___________.

• A.Asset
• B.Liability
• C.Checkbook
• D.Journal

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Asset misappropriations have an effect on the liabilities and do also have an indirect effect on the equity account.

• A.True
• B.False

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The principal way to detect omitted credits from books of account is through:

• A.Forced Balance
• B.Trend analysis
• C.Expense account
• D.None of all

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Larceny is the scheme in which an employee simply takes inventory from the company premises without attempting to conceal it in the books and records.

• A.False
• B.True

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The fraudsters' interest lies with an employer other than a company.

• A.True
• B.False

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