Fictitious Entities Created for the Sole Purpose of Committing Fraud

question 29

Multiple Choice

Fictitious entities created for the sole purpose of committing fraud are called:

• A) Ghost companies
• B) Non-accomplice vendors
• C) Shell companies
• D) "Rubber stamp" companies

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Definitions:

Units of X

A term commonly used in economics and other disciplines to denote a quantity or amount of a particular good or service referred to as "X."

Utility Function

A mathematical representation of how a consumer ranks different bundles of goods such that the higher the function's value, the higher the level of satisfaction.

Price Increase

A situation where the cost of goods or services rises over a period.

Loss of Income

A reduction or complete stoppage of earnings that an individual or entity faces due to various factors like unemployment, disability, or business interruption.