Which of the Following Describes Fraud

question 31

Multiple Choice

Which of the following describes fraud?

• A) a crime of intent
• B) a crime of innocence
• C) a crime of revenge
• D) a crime of honor

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Definitions:

Trial Balance Columns

Lists in a company's accounting records that show all the debit and credit balances of its accounts, used for internal checking purposes.

General Journal

A ledger where double-entry accounting transactions are initially recorded, including details such as date, accounts affected, and amounts.

General Ledger

A comprehensive set of accounts that records all financial transactions of a business, used to prepare financial statements.

Inventory

The total amount of goods and materials a business holds for the purpose of resale or production.