Which of the Following Statements Best Describes the Act of Collusion

question 203

Multiple Choice

Which of the following statements best describes the act of collusion?

• A)Collusion is caused by an overstatement of ending inventory.
• B)Collusion is an intentional act of two or more employees to accomplish theft of company assets.
• C)Collusion is one of the necessary outcomes of a system of internal control over financial reporting.
• D)Collusion is enhanced by an effective system of independent reconciliations and other checks on recorded amounts.

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Definitions:

Anti-Castro Projects

Initiatives, often covert, undertaken by the United States government or other organizations to undermine or overthrow the government of Fidel Castro in Cuba.

Depressed Cuban Economy

Refers to periods of economic downturn in Cuba, characterized by low growth, high unemployment, and financial instability.

Nuclear Strike

A military attack involving the use of nuclear weapons, which can result in massive destruction and significant loss of life due to the explosive blast, heat, and radiation.

Nuclear Balance

A state of stability between opposing powers characterized by the understanding that both sides possess sufficient nuclear weaponry to destroy each other, thereby deterring both from initiating a conflict that might lead to nuclear war.