What Is Fraud

question 15

Multiple Choice

What is fraud?

• A)A wrongful act that results in damage to a person's reputation or property
• B)Intentional deception or injury to another person
• C)A wrongful act or an infringement of a right leading to civil legal liability
• D)A failure to act with the level of care that someone of ordinary discretion would have behaved

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Definitions:

Retained Earnings

Profits that a company keeps or retains after paying dividends to shareholders, which are often reinvested in the business or used to pay down debt.

Accumulated Other Comprehensive Income

The cumulative effects of other comprehensive income items reported separately in the Stockholders’ Equity section of the balance sheet.

Long-Term Investments

Assets intended to be held for more than one fiscal year, including bonds, stocks, or real estate, aiming for future returns.

Reduce Expenses

A financial strategy aimed at decreasing costs to increase profitability.