​Which of the Following Was the Top Consumer Fraud in Number

question 14

Multiple Choice

​Which of the following was the top consumer fraud in number of victims identified in the U S Federal Trade Commission report?

• A)​foreign lottery scams
• B)​advance fee loan scams
• C)​fraudulent weight-loss products
• D)​credit card insurance

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Definitions:

Withdrawals

Withdrawals refer to the amounts of money or other assets taken from a business by its owner(s) for personal use.

Wage Expense

Wage expense is the total amount of wages and salaries paid to employees by a company during a specific period of time.

Personal Use

The use of a company's assets for the owner's or employees' personal benefits, which can affect the taxable income of the business if not properly accounted for.

Capital

Financial assets or the financial value of assets, such as cash and goods, used by a business to produce goods or services.