Which Type of Audits Can Detect Fraud and Errors

question 73

Multiple Choice

Which type of audits can detect fraud and errors?

• A) external audits
• B) internal audits
• C) network security audits
• D) all of the above

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Definitions:

Margin

The difference between the selling price of a product or service and its cost of production, or the amount of equity an investor has to deposit to borrow money for investing.

Futures Contracts

These are standardized legal agreements to buy or sell a particular commodity or financial instrument at a predetermined price at a specified time in the future.

Buyers and Sellers

The participants in a market who determine the demand for and supply of goods and services, influencing prices and market dynamics through their transactions.

Parity Values

Equal-valued metrics that compare different financial instruments, such as conversion parity between options and stocks.