The Fraud Triangle Identifies Incentive,opportunity,and Benchmarks as the Requirements for a Fraud

question 64

True/False

The fraud triangle identifies incentive,opportunity,and benchmarks as the requirements for a fraud to occur.

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Definitions:

Spot Rate

The current market price at which a particular asset, such as foreign currency, can be bought or sold for immediate delivery.

Exchange Rates

How much one currency is worth in terms of another during conversion.

Liability Record

Liability Record is a documentation or entry that reflects the obligations or debts of a company that are due to be paid to others.

Forward Contract

A customized contract between two parties to buy or sell an asset at a specified price on a future date.