According to the 2011 PricewaterhouseCoopers (PwC) Global Economic Crime Survey

question 81

Multiple Choice

According to the 2011 PricewaterhouseCoopers (PwC) Global Economic Crime Survey:

• A) Internal audit is the most effective fraud detection method.
• B) Cybercrime ranks as one of the top four economic crimes worldwide.
• C) Accounting fraud has increased significantly over the last two years.
• D) All of the above.

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Definitions:

Peak Efficiency

The state in which an entity or system is operating at its maximum potential and efficiency, without waste of resources.

Average Total Cost

This refers to the total cost per unit of output, calculated by dividing the total cost of production by the number of units produced.

Marginal Cost

The rise in expense incurred from manufacturing an extra unit of a product or service.

Shutdown Point

The level of operations at which a company does not benefit from continuing operations or producing any output due to high variable costs.