The Type of Fraud Committed by Company Managers,who Make False

question 6

Multiple Choice

The type of fraud committed by company managers,who make false and misleading entries in the books in order to improve a company's financial statements,is called:

• A)misappropriation of assets.
• B)fraudulent financial reporting.
• C)embezzlement.
• D)collusion.

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Definitions:

Consumer Goods

Products that are purchased for personal or household use, rather than for manufacturing or reselling.

Priority Rule

A principle that establishes the order in which claims or legal rights are to be enforced or satisfied.

Secured Party

An individual or entity that has an interest, usually a collateral interest, in the personal property of a debtor.

Attach

In legal terms, to seize a person's property to satisfy a court-ordered debt, or the process of becoming legally enforceable or applicable.