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What Are the Three Elements of the Fraud Triangle? Describe

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What are the three elements of the fraud triangle? Describe each.


Definitions:

Variable Cost Estimates

Projections of costs that change in relation to the level of production or sales volume.

Facility Expenses

Costs associated with the physical maintenance and operation of a business's buildings and equipment.

Tenant-Days

A measure used in the real estate and hospitality sectors, representing the total number of days that tenants occupy a property.

Budgeting Formulas

Mathematical expressions or guidelines used in the process of preparing budgets to estimate revenues, expenses, and net income.

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