Which of the following is an example of asset overstatement fraud?
A) Not recording contingent liabilities
B) Under recording debt
C) Under recording depreciation expenses
D) Improperly expensing costs that should be capitalized
E) None of the above

Question

Quizplus · Accepted Answer

A: Incorrect; this is an example of an understatement of liability fraud
B: Incorrect; this is an example of an understatement of liability fraud
C: Correct; this will result in overstated fixed asset accounts
D: Incorrect; this will result in the understatement of assets
E: Incorrect

Which of the Following Is an Example of Asset Overstatement