What Are the Two Major Classifications of Fraud

question 70

Multiple Choice

What are the two major classifications of fraud?

• A) intent and rationalization
• B) misappropriation of assets and materiality
• C) misappropriation of assets and fraudulent financial reporting
• D) fraudulent financial reporting and intent

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Definitions:

Bribes

Illicit payments, often in the form of money, gifts, or favors, offered or received to gain an advantage or influence over decisions or actions.

Business Practice

Established methods of operation within a particular industry or company, including strategies, processes, and activities.

Cultural Environments

The collection of beliefs, practices, norms, and values shared by a group of people within a specific region or organization.