The Theory Behind Is That If People Know Their Work

question 26

Multiple Choice

The theory behind is that if people know their work or activities will be monitored by others, the opportunity to commit and conceal a fraud will be reduced.

• A) documentation
• B) segregation of duties
• C) system of authorizations
• D) independent checks

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Definitions:

Worthless

Pertaining to an asset that has lost all monetary value.

Short-term Loss

A monetary deficit incurred from the sale or trade of an asset owned for less than a year.

Surtax

An additional tax levied on top of the base tax rate for specific purposes or income brackets.

MAGI

Modified Adjusted Gross Income is a measure used by the IRS to determine eligibility for certain tax benefits, adjusting the gross income by adding back certain deductions.