WCC Exam 2 | 192 Questions with Verified Answers,100% CORRECT
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Course
WCC
Institution
WCC
WCC Exam 2 | 192 Questions with Verified Answers
Embezzlement definition - CORRECT ANSWER Fraudulent conversion of personal property of another by one who is already in lawful possession of that property
Examples of embezzlement - CORRECT ANSWER -stealing money from a company bank account
-t...
WCC Exam 2 | 192 Questions with Verified Answers
Embezzlement definition - CORRECT ANSWER Fraudulent conversion of personal
property of another by one who is already in lawful possession of that property
Examples of embezzlement - CORRECT ANSWER -stealing money from a company
bank account
-taking out a fake loan in company name
-falsifying records
-paying phantom (nominee) employees or vendors
-unethical use of company credit cards
Nominee account definition - CORRECT ANSWER the person and account who
would receive someone's money if they were to suddenly pass
Embezzlement is difficult to detect for 2 reasons: - CORRECT ANSWER 1)
embezzler is often in charge of the money they're stealing
2) theft is often a gradual process (taking small amounts)
what is the average length of an embezzlement scheme? - CORRECT ANSWER 7
years
what percent of churches are impacted by WCC in religious systems? - CORRECT
ANSWER 9%
why is religious system WCC so prevalent? - CORRECT ANSWER -trust = reduced
oversight
-reliance on volunteers
-lack of vigilance (Ex: audits)
WCC religious system examples (3) - CORRECT ANSWER -David and Connie Reiter
-Betty Fowler
-Jim Baker (Praise the Lord Ministries)
tax evasion vs. tax avoidance legality - CORRECT ANSWER evasion is illegal while
avoidance is legal
cost of tax violators annually - CORRECT ANSWER $450-500 Billion
"ignorance is not a defense" True of False in tax evasion? - CORRECT ANSWER
FALSE!!! The government knows taxes are hard so this is the only exception to
this rule
what is determined if someone knowingly committed tax evasion? - CORRECT
ANSWER willfullness; the willfullness someone has to violate tax code
willfullness definition - CORRECT ANSWER awareness of tax laws and voluntarily
and intentionally violated that duty
Common tax offenses: - CORRECT ANSWER -false return (filling a return with false
info)
-failure to file
-tax evasion (hiding income to prevent higher taxes, billionaires do this a lot)
-failure to collect or pay over (usually employers to employees, aka taking part of
their tax paying)
Proof of willfullness (prosecution uses to convict) - CORRECT ANSWER -dealing in
cash only
-double set of books
-ignorance advice
-previous filing
-tax prosecutor letters
-lying to investigators
-education and background
-large gross income
-use of nominees
Judicial Misconduct (Politics and Gov't WCC) - CORRECT ANSWER -bribery
-ticket fixing
-Philadelphia Traffic Court
-Judge Mark Ciavarella "Kids for Cash" Scheme
Political Scandals vs. Political Corruptions - CORRECT ANSWER Scandals are NOT
WCC, corruption is
Federal Civil Service Act of 1883 - CORRECT ANSWER Prohibited awarding city jobs
(senators, congressmen, etc.) in return for cash, services, etc.
Campaign Finance Laws (quote) - CORRECT ANSWER "Person use vs. Campaign
Related"
Campaign Finance Laws People - CORRECT ANSWER -John Edwards
-Jesse Jackson
-Donald Trump Speculated
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