​What Are Detectlets

question 2

Multiple Choice

​What are detectlets?

• A)​Detectlets are small program plug-ins that discover specific indicators.
• B)​Detectlets are infrequent accounting anomalies discovered during an audit.
• C)​Detectlets are fraud indicators highlighted by the data process program during an audit.
• D)​Detectlets are items discovered by the program that indicate the percentage possibility that fraud is present.

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Definitions:

Income Sharing

A financial arrangement where profits or revenues are distributed among participants or partners, often seen in partnerships and joint ventures.

Partnership Assets

Resources owned jointly by partners in a partnership arrangement, used in the operation of the partnership business.

Cash Distribution

The payment of earnings or capital to shareholders, stakeholders, or partners by a corporation or fund.

Noncash Assets

Assets that cannot be quickly converted into cash, such as real estate, equipment, and inventory.