Once a Fraudster Has Gained Confidence That the Identity Theft

question 40

Multiple Choice

Once a fraudster has gained confidence that the identity theft is working, he or she often takes out a loan using the victim's identity. The most common type of fraudulent loan is for which of the following items?

• A) Foreign travel
• B) Purchasing real estate
• C) Education
• D) An automobile

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Definitions:

Contribution Format

A financial statement layout that separates fixed costs from variable costs to highlight the contribution margin of a business.

Absorption Costing

A financial tracking method that brings together all costs of production—direct materials, direct labor, and all overhead, both variable and fixed—inclusion in the price of a product.

Variable Costing

An accounting method that includes only variable production costs (materials, labor, and overhead) in product costs.

Net Incomes

The total earnings of a company after all expenses and taxes have been deducted from revenues, indicating profitability over a specific period.