Which of the Following Is NOT an Element of Fraud

question 68

Multiple Choice

Which of the following is NOT an element of fraud?

• A) Material misrepresentation.
• B) Competent parties.
• C) Knowledge of falsity.
• D) Justifiable reliance.

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Definitions:

Squared Deviation

The square of the difference between an observed data value and the mean of the data set, used in variance and standard deviation calculations.

Mathematical Average

A statistical measure representing the sum of values divided by their quantity.

Modal Score

The most frequently occurring value in a set of data, which represents the mode.

Median Score

The median score represents the middle value in a sorted list of numbers, essentially splitting the dataset into two halves.