Answer the Following: A. What Are the Two Types of Fraud and What

question 9

Essay

Answer the following:
a. What are the two types of fraud and what is the effect of each on the contract involved?
b. Give an example of each type of fraud.
c. What elements need to be proved to establish each type of fraud?
Fraud in the execution is a misrepresentation that deceives the other party as to
_{the nature of the contract. It renders a transaction void. Fraud in the inducement is}

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Definitions:

Government Organizations

Entities established by a government to carry out specific functions or services, operating within the public sector and funded by the government.

Accounting Standards

Rules and guidelines that prescribe the specific accounting methods and procedures to present financial statements accurately and consistently.

Investing Section

Part of a cash flow statement that shows the cash spent on and received from investment activities, indicating how a company is allocating its resources for growth.

Statement of Cash Flows

A financial report that provides a summary of a company's cash inflows and outflows over a specific period.