Errors Are Always an Indication of Intentional Fraud

question 36

True/False

Errors are always an indication of intentional fraud.

---

Definitions:

Standard of Care

The level of competence, caution, and attention expected of an individual in a specific situation, often used in legal contexts concerning negligence.

Duty of Care

The legal obligation to avoid acts or omissions which could foreseeably harm others.

Negligence

A failure to exercise the care that a reasonably prudent person would exercise in similar circumstances, leading to harm or damage.

Professional Designation

A formal certification demonstrating a certain level of expertise or specialization in a particular field, frequently required in professions such as law, medicine, and accounting.