The Primary Way That Fraud Is Prevented and Detected Is

question 63

Multiple Choice

The primary way that fraud is prevented and detected is through a proper system of:

• A)ethical standards and a code of ethics.
• B)policies developed by upper management.
• C)internal control.
• D)internal and external audits.

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Definitions:

Taxed

Imposed financial charges by a government on income, goods, or activities for public funding.

Separate Entity

A principle acknowledging that a business has its own legal identity, distinct from its owners or members, allowing it to own property, incur debts, and enter into contracts independently.

UPA

Uniform Partnership Act, a standardized set of laws intended to regulate the operation of partnerships within the United States.

Tenant In Partnership

A member of a partnership who has rights to use property owned by the partnership.