How Is Embezzlement Related to Theft and Fraud

question 14

Multiple Choice

How is embezzlement related to theft and fraud?

• A) Embezzlement requires the cooperation of the company at large, whereas theft and fraud are individual actions.
• B) Embezzlement relates specifically to monetary gain, whereas theft and fraud are more broadly about misconduct.
• C) Embezzlement is a more specific type of fraud in which a person uses the privileges of their employment to mislead or steal from a customer.
• D) Embezzlement is a subset of theft and fraud that occurs specifically between an employee and employer.

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Definitions:

Efficient

An economic condition where resources are allocated in the most optimal way, maximizing the production of goods and services without wasting any resources.

Production Possibilities Frontier

A graph that illustrates the maximum amounts of two goods that a society can produce with the available resources and technology, given that it is using its resources efficiently.

Representativeness Bias

A cognitive bias where individuals incorrectly assess the probability of an event based on similarities to existing prototypes in their mind, rather than on actual evidence.

Availability Bias

A cognitive bias where individuals overestimate the importance of information that is readily available to them.