Which of the Following Statements About Errors or Irregularities Is

question 119

Multiple Choice

Which of the following statements about errors or irregularities is INCORRECT?

• A) Irregularities are unintentional errors.
• B) An error is neither ethical nor unethical.
• C) An error is the result of an unintentional mistake.
• D) Irregularities are the result of an intentional mistake and are generally considered unethical.

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Definitions:

Sole Proprietor

A business owned and operated by a single individual, where the owner is personally responsible for the business's debts.

Initial Investment

The amount of money used to start a new business venture, project, or investment.

Natural Resources

Raw materials and components found in the environment that can be used for economic gain, such as minerals, forests, water, and land.

Final Goods and Services

Goods and services sold to final, or end, users.