An Employee in Charge of Counting and Depositing Cash Holdings

question 13

Multiple Choice

An employee in charge of counting and depositing cash holdings at end of the day urgently needs some extra cash to pay her son's medical bills.Using the fraud triangle, this situation likely constitutes:

• A)Motive
• B)Rationalization
• C)Opportunity
• D)(a)and (b)
• E)(a)and (c)

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Definitions:

Liquidation Process

The formal process of winding up a company's operations, selling its assets, and using the proceeds to pay off creditors before ceasing operations.

Sole Proprietorship

A business owned and operated by one individual, where there is no legal distinction between the owner and the business entity.

Incorporated

The process of legally declaring a business entity as a corporation, providing its owners with benefits such as limited liability.

Accounts Receivable

Money owed to a business by its clients or customers for goods or services provided on credit.