Why Are Tip Hotlines or Other Tip Reporting Mechanisms Important

question 43

Multiple Choice

Why are tip hotlines or other tip reporting mechanisms important to formally have in place in a business?

• A) Nearly 50% of all fraud detection occurs through tip hotlines.
• B) Forensic accounting methods lack the ability to detect most fraud.
• C) Civil court rules of evidence do not allow charges to be brought against someone unless it is reported first.
• D) .Over 75% of all fraud detection occurs through tip hotlines.

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Definitions:

Ending Inventory

The total value of all merchandise or goods that a company has in stock at the end of an accounting period.