A Focus on Fraud Detection Is Often More Effective and Less

question 29

True/False

A focus on fraud detection is often more effective and less costly than deterrence.

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Definitions:

Implied Ratification

The tacit approval or agreement to the terms of a contract or action not originally authorized, indicated by actions that suggest acceptance.

Age of Majority

The legally defined age at which an individual is considered an adult and capable of making decisions and accepting responsibilities for their actions.

Disaffirmance

The legal right of a party to renounce or void a contract, often used in the context of minors voiding contracts they've entered.

Mentally Incapacitated Persons

Individuals who are unable to make informed decisions due to mental impairments or conditions.