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Which of the Following Is a Source of Risk Identified

question 2

Multiple Choice

Which of the following is a source of risk identified by both the AICPA/CICA and the Institute of Internal Auditors:


Definitions:

Honesty

The quality of being truthful and free from deceit or fraud.

Holder In Due Course

A legal term for a party that has acquired a negotiable instrument in good faith and for value, and thus has certain protections against defects in title and prior claims.

Consideration

The value (such as money, service, or goods) that is exchanged between parties in a contract, making the agreement legally binding.

Value

The importance, worth, or usefulness of something, often in terms of money, social benefits, or personal significance.

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