Which of the following is a use of the last-two-digits test?
A) It narrows the range of transactions to be investigated.
B) It identifies round numbers which are red flags for invented numbers.
C) It indicates instances where digits have been transposed to make the number larger.
D) It flags numbers that are repeated frequently as possible fraudulent transactions.

Question

Quizplus · Accepted Answer

The last-two-digits test is used to identify round numbers, which are often a red flag for invented numbers. For example, a transaction for $1,000.00 is more likely to be an invented number than a transaction for $1,023.78.

Which of the Following Is a Use of the Last-Two-Digits