F1 (BT) – Chapter 12 MCQ’s (Identifying and preventing fraud) – ACCA

This is ACCA F1 (BT/FBT) Business and Technology multiple-choice questions (MCQs).

These multiple-choice questions (MCQs) are designed to help ACCA F1 students to better understand the exam format. We aim to instill in students the habit of practicing online for their CBE exams. By doing so, students can reduce exam stress and prepare more effectively.

Please note:

  • Students should not attempt these MCQs until they have finished the entire chapter.
  • All questions are compulsory, so please do not skip any.

We hope that these MCQs will be a valuable resource for students preparing for the ACCA F1 (BT/FBT) exam.

INFORMATION ABOUT THESE MCQs Test

Course: ACCA
Fundamental Level: Knowledge, FIA
Subject: Business And Technology
Paper: F1 – BT/FBT
Chapter: Identifying and preventing fraud
Chapter Number: 12 of the Practice and Exam Kit; and 19 of the Study Text
Syllabus Area: C – Accounting and reporting systems, technology, compliance and controls
Questions Type: MCQs
Exam Section: Section A

Number of the Questions

There are 16 Questions in this Online F1 MCQ Test that cover Chapter 12, Identifying and preventing fraud of ACCA F1 (BT/FBT) Business and Technology Module.

Time

These MCQs are not time-bound. Take your time and solve them without stress. Pay proper attention and focus. Do not rush or hesitate.

Result

Students will get their F1 CBE MCQs Test results after they finish the entire test. They will also be able to see the correct and incorrect answers, as well as explanations for the incorrect questions.

Types of Questions

MCQs: Choose one from the given options.
Multiple choice: Choose all answers that seem correct or incorrect, as per the requirement of the question. Keep your eye on the wording “(select all those which are correct/ or incorrect)”.
Dropdown: Select from the list provided.
Type numbers: Type your answer in numbers as per the requirement of the question.


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F1 - Chapter 12 - Part C Test - MCQs and MTQs

1 / 16

All of the following, except one, are potential impacts on a business of removal of significant funds or assets. Which is the exception?

2 / 16

What is the term given to a method of fraud in the accounts receivable area, by which cash or cheque receipts are stolen, and the theft concealed by setting subsequent receipts against the outstanding debt?

3 / 16

X plc has a bad debt policy whereby aged receivables who are obviously not going to pay, are written off. The financial accountant does not enforce this policy.

This might be fraudulent insofar as it creates which of the following effects?

4 / 16

. . . . . . .  . . . constitutes any financial transactions whose purpose is to conceal the origins of the proceeds of criminal activity. Which word(s) completes the sentence?

5 / 16

Which of the following would most clearly present a personnel risk of fraud?

6 / 16

Which of the following is NOT a key risk area for computer fraud?

7 / 16

Which of the following internal controls might be least effective in preventing fraud, if staff are in collusion with customers?

8 / 16

Only allowing purchasing staff to choose suppliers from an approved list is an example of what sort of fraud prevention measure?

9 / 16

In a limited company, or plc, it is the ultimate responsibility of the ................... to take reasonable steps to prevent and detect fraud.

Which word or phrase correctly completes this statement?

10 / 16

All of the following, with one exception, are internal factors which might increase the risk profile of a business. Which is the exception?

11 / 16

Which of the following would NOT form part of a fraud response plan?

12 / 16

Which TWO of the following stakeholders will be most directly affected if a business overstates its financial position?

13 / 16

Which of the following activities create vulnerability to fraud?

(i) Calculating payslips
(ii) Preparing delivery notes
(iii) Paying supplier invoices
(iv) Meeting budgets and performance targets

14 / 16

Dishonesty is a .................... to act in ways which contravene accepted ethical, social, organisational or legal norms for fair and honest dealing.

Which word correctly completes this statement?

15 / 16

Which of the following statements about fraud prevention is NOT true?

16 / 16

The initial disposal of the proceeds of an illegal activity into apparently legitimate business activity is known as what?

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