Financial Statement Fraud, Exercise #2 – Template

  1. If the tax return or insurance claim is misstated, did Greg Larsen commit some form of financial statement fraud? If so, what kind of fraud? Explain.
  2. What accurary certifications (e.g., penalties of perjury, false statements) on tax return and bank financial statement address materially inaccurate information?
  3. Was Larsen Convenience solvent on January 7, 2016? Explain.
  4. How does Greg Larsen’s solvency impact Tonya Larsen?