Fraud Is Any and All Means a Person Uses to Gain

question 17

Multiple Choice

Fraud is any and all means a person uses to gain an unfair advantage over another person.Current and former employees of an organization are much more likely to perpetrate fraud than external parties.The act by a person or group of persons resulting in materially misleading financial statements is called a(n)

• A)misappropriation of assets.
• B)employee fraud.
• C)fraudulent financial reporting.
• D)theft of assets.

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Definitions:

Union Shop Agreement

A labor agreement requiring all employees of a business to become union members as a condition of employment.

Due Process Protections

Guarantees under the law that provide individuals the right to fair procedures and trials.

Superseniority

A policy within unions that grants certain union officials higher priority for job retention during layoffs, over and above that based on tenure or performance.

Interest Arbitrator

An impartial third party who resolves disputes between labor unions and employers by making binding decisions.