The two most common types of fraud impacting the financial statements are:
A)fraudulent financial reporting and e-commerce fraud.
B)misappropriation of assets and embezzlement.
C)fraudulent financial reporting and misappropriation of assets.
D)cooking the books and fraudulent financial reporting.

Question

Quizplus · Accepted Answer

The two most common types of fraud impacting financial statements are fraudulent financial reporting and misappropriation of assets. Fraudulent financial reporting is when financial statements are manipulated to misrepresent a company's financial performance. Misappropriation of assets involves stealing or misusing company assets for personal gain. While e-commerce fraud and embezzlement are types of fraud, they are not the two most common types of fraud impacting financial statements. "Cooking the books" is another term for fraudulent financial reporting, so it is not a separate type of fraud.

The Two Most Common Types of Fraud Impacting the Financial