Of the Elements of Fraud, Which Is Usually Least Likely

question 55

Multiple Choice

Of the elements of fraud, which is usually least likely to be detected by auditors?

• A) Theft act
• B) Concealment
• C) Conversion
• D) Personal pressures

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Definitions:

Output

The total amount of goods and services produced by a business, industry, or economy within a particular time frame.

Profit-Maximizing

The process or strategy of adjusting production and pricing to achieve the highest possible profit based on the cost of production and market demand.

Firm

A business organization or entity, especially one involved in industrial or commercial activities.

Operating

Refers to the day-to-day functions, activities, and administrative tasks required to run a business or an organization.