Which of the Following Statements Is the Most Correct Regarding

question 158

Multiple Choice

Which of the following statements is the most correct regarding errors and fraud?

• A) An error is unintentional, whereas fraud is intentional.
• B) Frauds occur more often than errors in financial statements.
• C) Errors are always fraud and frauds are always errors.
• D) Auditors have more responsibility for finding fraud than errors.

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Definitions:

Potentially Useful

Describes something that has the capacity to be of benefit or service, possibly aiding in solving a problem or fulfilling a need.

Group Brainstorming

A collaborative idea generation process where members of a group freely share and develop creative solutions or thoughts.

Imagination-Based

Relating to, or characterized by, the creative ability of the mind to form images or concepts of external objects not present to the senses.

Relationship-Seeking Strategies

Plans of action that involve consciously making links between concepts or ideas that are not normally associated with each other.