Paco Asks Ricardo If He Had a Good Time at the Beach

question 68

Multiple Choice

Paco asks Ricardo if he had a good time at the beach with him. Ricardo did not. In response, he says, "It was interesting." What type of deception did he use?

• A) An altruistic lie
• B) An evasion*
• C) An omission
• D) A fabrication

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Definitions:

Accrued Expense

Expenses that have been incurred but not yet paid, representing liabilities for goods or services received but not yet invoiced.

Recognising

The process of recording an item in the financial statements when it meets the criteria set by accounting standards.