All of the Following Are Part of the Fraud Element

question 3

Multiple Choice

All of the following are part of the fraud element triangle EXCEPT:

• A)Theft act
• B)Concealment
• C)Conversion
• D)Rationalization

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Definitions:

Directly Liable

Refers to the legal responsibility that falls directly on an individual or entity due to their actions or omissions.

Tort Case

A legal case involving a civil wrong that causes harm or loss, leading to legal liability for the person who commits the tortious act.

Principal

The primary party involved in a transaction or agreement, often responsible for the overall terms and conditions.

Agent

An individual or entity authorized to act on behalf of another person or entity in business transactions or legal matters.