Typical Business Insurance for Occupational Fraud Includes Coverage for Which

question 9

Multiple Choice

Typical business insurance for occupational fraud includes coverage for which the following items:

• A) Proof of loss
• B) Loss of valuable papers and records
• C) Embezzled losses
• D) All of the above.

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Definitions:

Asset

Resources owned by a company or individual that are expected to bring future economic benefits.

Liability

A financial obligation of a business that it is required to repay in the future.

Owner's Equity

The residual interest in the assets of an entity after deducting liabilities, representing what the owners own outright in the company.

International Standards

Guidelines and specifications established to ensure consistency and quality in products, services, and processes worldwide.