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:

Opportunity Costs

The financial sacrifice made by not selecting the alternative that ranks immediately lower when faced with a decision.

Cars

Wheeled motor vehicles used for transportation, typically powered by an internal combustion engine or electric motors.

Computers

Electronic devices capable of processing, storing, and displaying information, used for a wide range of applications from personal computing to complex scientific calculations.

Opportunity Cost

The charge of overlooking the next most beneficial alternative while making a choice.