Required information [The following information applies to the questions displayed below.] Errors versus...
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Accounting
Required information The following information applies to the questions displayed below. Errors versus Fraud Misstatements can be of two types. The firstan erroris deemed to be unintentional. The second typefraudis deemed to be an intentional act. Auditors have the responsibility to plan and perform an audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. Misstatements are classified as either unintentional error or intentional fraud Roll your cursor over each action and, based on the hint given, choose whether it is an error or fraud. Fraudulent financial reporting Error Fraud Unreasonable estimates from misinterpretation of facts Misappropriation of assets Mistake in gathering data 
Required information
The following information applies to the questions displayed below.
Errors versus Fraud
Misstatements can be of two types. The firstan erroris deemed to be unintentional. The second typefraudis deemed
to be an intentional act.
Auditors have the responsibility to plan and perform an audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. Misstatements are classified as either unintentional error or intentional
fraud
Roll your cursor over each action and, based on the hint given, choose whether it is an error or fraud.
Fraudulent financial
reporting
Error
Fraud
Unreasonable estimates
from misinterpretation of
facts
Misappropriation of
assets
Mistake in gathering
data
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