Detecting fraud where two or more people are in collusion to override controls is less difficult because it is much easier to for one or more fraud perpetrators to reveal the fraud

In the context of Scenario C, the phenomenon in which Janice meets her manager’s expectations by behaving in an irresponsible manner is known as a(n)

A. self-fulfilling prophecy. B. contingency. C. administrative effect. D. flexible process. E. economy of scale.

On January 1, Alistair Manufacturing had a beginning balance in Work-in-Process Inventory of $164,000 and a beginning balance in Finished Goods Inventory of $25,000

During the year, Alistair incurred manufacturing costs of $202,000. During the year, the following transactions occurred: Job C-62 was completed for a total cost of $140,000 and was sold for $157,000. Job C-63 was completed for a total cost of $181,000 and was sold for $212,000. Job C-64 was completed for a total cost $82,000 but was not sold as of year-end. The Manufacturing Overhead account had an unadjusted credit balance of $24,000 and was adjusted to zero at year-end. What was the amount of gross profit reported by Alistair at the end of the year? A) $48,000 B) $72,000 C) $17,000 D) $31,000