A Tort Is

question 449

Multiple Choice

A tort is:

• A) negligent injury that can result in fines or imprisonment for less than one year
• B) a criminal act
• C) a felony
• D) a civil wrong not a breach of contract
• E) none of the other choices

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Definitions:

Cash Equivalents

Short-term, highly liquid investments that are readily convertible to known amounts of cash and close to their maturity.

Internal Audits

Evaluations conducted internally to assess the effectiveness of a company's operations, controls, and compliance with regulations and policies.

Collusion

An illegal agreement between parties to deceive or defraud others, often involving price-fixing or the manipulation of markets.

Segregation of Duties

A key internal control that aims to reduce the risk of fraud and error by dividing responsibilities among different people or departments.