Which of the Following Statements Is TRUE

question 54

Multiple Choice

Which of the following statements is TRUE?

• A)External auditors are usually specifically trained to detect fraud.
• B)Audits of books and records rarely discover frauds.
• C)Less than 5 percent of all frauds are detected by auditors.
• D)The presence of auditors provides a major deterrent effect.

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Definitions:

Nominal Data

Data classified into categories that cannot be ordered or ranked.

Proportional Slice

A proportional slice refers to a segment of a whole, such as in a pie chart, where each slice’s size represents its proportion in relation to the total.

Nominal Data

Data that are categorized into distinct groups and names, without any order or ranking.

Frequency Distribution

A table or graph that displays the frequency of various outcomes in a sample.