Fraud is a criminal offense. Since the accounting rules allowed Lehman to hide its toxic assets, the company did not commit fraud. Do you agree? Explain your reasoning.

A

If it can be proven that cosmetic accounting was used with the purpose of deceit, then it should be legally considered fraud. The company’s assets can be tracked through the transactions and transition into cash. Thus, it is technically manipulation of accounting records that is a fraudulent, criminal offense.

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Academic.Tips. (2021) 'Fraud is a criminal offense. Since the accounting rules allowed Lehman to hide its toxic assets, the company did not commit fraud. Do you agree? Explain your reasoning'. 9 June.

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Academic.Tips. (2021, June 9). Fraud is a criminal offense. Since the accounting rules allowed Lehman to hide its toxic assets, the company did not commit fraud. Do you agree? Explain your reasoning. Retrieved from https://academic.tips/question/fraud-is-a-criminal-offense-since-the-accounting-rules-allowed-lehman-to-hide-its-toxic-assets-the-company-did-not-commit-fraud-do-you-agree-explain-your-reasoning/

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Academic.Tips. 2021. "Fraud is a criminal offense. Since the accounting rules allowed Lehman to hide its toxic assets, the company did not commit fraud. Do you agree? Explain your reasoning." June 9, 2021. https://academic.tips/question/fraud-is-a-criminal-offense-since-the-accounting-rules-allowed-lehman-to-hide-its-toxic-assets-the-company-did-not-commit-fraud-do-you-agree-explain-your-reasoning/.

1. Academic.Tips. "Fraud is a criminal offense. Since the accounting rules allowed Lehman to hide its toxic assets, the company did not commit fraud. Do you agree? Explain your reasoning." June 9, 2021. https://academic.tips/question/fraud-is-a-criminal-offense-since-the-accounting-rules-allowed-lehman-to-hide-its-toxic-assets-the-company-did-not-commit-fraud-do-you-agree-explain-your-reasoning/.


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Academic.Tips. "Fraud is a criminal offense. Since the accounting rules allowed Lehman to hide its toxic assets, the company did not commit fraud. Do you agree? Explain your reasoning." June 9, 2021. https://academic.tips/question/fraud-is-a-criminal-offense-since-the-accounting-rules-allowed-lehman-to-hide-its-toxic-assets-the-company-did-not-commit-fraud-do-you-agree-explain-your-reasoning/.

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"Fraud is a criminal offense. Since the accounting rules allowed Lehman to hide its toxic assets, the company did not commit fraud. Do you agree? Explain your reasoning." Academic.Tips, 9 June 2021, academic.tips/question/fraud-is-a-criminal-offense-since-the-accounting-rules-allowed-lehman-to-hide-its-toxic-assets-the-company-did-not-commit-fraud-do-you-agree-explain-your-reasoning/.

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