Which of the Following Statements Is Incorrect

question 46

Multiple Choice

Which of the following statements is incorrect?

• A)A fraud prevention program starts with a fraud risk assessment across the entire firm
• B)The audit committee typically has an oversight role in risk assessment process
• C)Communicating a firm's policy file to employees is one of the most important responsibilities of management
• D)A fraud prevention program should include an evaluation on the efficiency of business processes.

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Definitions:

Money Supply

The full tally of available monetary resources in an economy at a specified time, comprising cash, coins, and checking and savings account funds.

Reserve Requirement

Central bank regulations that set the minimum amount of reserves that must be held by a commercial bank.

Bonds

Financial instruments issued by governments or corporations to raise funds, representing a loan made by the investor to the issuer.

Money Supply

The combined economic financial resources at a given time in an economy.