Which Condition Is NOT a Condition to Prove Fraud

question 35

Multiple Choice

Which condition is NOT a condition to prove fraud?

• A) spoken words
• B) concealment of a material fact
• C) deceit that causes monetary damage
• D) accidental misrepresentation

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Definitions:

U.S. GAAP

U.S. GAAP, or United States Generally Accepted Accounting Principles, is a collection of accounting standards and procedures for companies to follow when compiling their financial statements in the U.S.

Accounting Treatment

The methodology and guidelines used to represent an accounting process or transaction in the financial statements, according to principles of accounting standards.

Comparability

An accounting principle that allows financial information to be compared across different periods or companies for analysis.

Financial Information

Data related to the financial status and activities of an individual, company, or organization.