The Fraud Triangle Contains Three Elements That Must Exist for Accounting

question 108

Multiple Choice

The fraud triangle contains three elements that must exist for accounting fraud to occur.The elements are:

• A)fear,greed,and satisfaction.
• B)greed,larceny,and access.
• C)motive,opportunity,and means.
• D)incentive,opportunity,and rationalization.

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Definitions:

Ethical Dilemma

An ethical dilemma is a situation where an individual faces a difficult decision involving a conflict between moral imperatives, where to obey one would result in transgressing another.

Ethics Competency

The ability to recognize ethical issues, make informed ethical judgments, and take appropriate ethical actions reflecting both the standards of professional practice and the broader community expectations.

Core Components

The fundamental elements or parts that are necessary for the functionality or identity of a system, concept, or strategy.

Ethical Competency

The capacity to understand, evaluate, and act upon moral principles and values in decision-making and behavior.