Which One of the Following Is Not an Example of Fraud

question 50

Multiple Choice

Which one of the following is not an example of fraud?

• A) the falsification of accounting records
• B) the intentional omission from the financial statements of transactions
• C) the intentional misapplication of accounting principles relating to amounts
• D) the stealing of assets
• E) the payment of a bribe

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Definitions:

Cooperate

The act of working together willingly toward a common goal or purpose, especially in a business or legal context.

Compensate

To provide something, typically money, in recognition of loss, suffering, or injury incurred; recompensation.

S Corporation

A form of corporation that meets specific Internal Revenue Code requirements, allowing income to be passed through to shareholders and taxed at individual rates.

Shareholders

People or organizations holding stock in a corporation, granting them specific rights and stakes in the business.