Fraud Prevention Saves the Most Money Because __________

question 54

Multiple Choice

Fraud prevention saves the most money because __________.

• A) No fraud means no investigation cost
• B) No fraud means no detection cost
• C) No fraud means no litigation cost
• D) All of the above

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Definitions:

Yielding

The income return on an investment, such as the interest or dividends received from holding a particular security.

FASB 13

Accounting standard issued by the Financial Accounting Standards Board related to lease accounting.

Operating Lease

A lease in which the lessee does not effectively acquire ownership of the leased asset. Accounted for as a stream of expense payments on the income statement. No entry is made on the balance sheet to reflect the acquisition of the asset. The most common form of off balance sheet financing. Compare with Financing lease.

Economic Life

The expected period during which an asset remains useful to the average owner.