In one of the cases in the textbook, Eddie Antar, the CEO of the Crazy Eddie electronic stores in the New Jersey area, took fraud to a higher level. The company started out as a small, family-owned business, but Eddie soon found that he could really clean up by taking his company public and making a fortune off the sale of stock. However, in order to sustain his financial success, he turned to cooking the books. Unfortunately for Eddie, his scheme eventually came to an end. What financial statement fraud scheme did Eddie commit?
A) Overstatement of inventory
B) Improper disclosures
C) Fictitious revenues
D) All of the above

Question

Quizplus · Accepted Answer

Eddie Antar committed multiple financial statement fraud schemes including overstating inventory to inflate assets, improper disclosures to mislead investors and regulators, and recording fictitious revenues to falsely boost sales figures. These actions collectively contributed to the manipulation of the company's financial statements.

In One of the Cases in the Textbook, Eddie Antar