In Terms of the Definition of Occupational Fraud and Abuse

question 45

Multiple Choice

In terms of the definition of occupational fraud and abuse, who is an employee?

• A) Any person who receives regular and periodic compensation from an organization for his or her labor.
• B) Only rank and file workers.
• C) Any trust violator.
• D) Respectable business and professional men.

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Definitions:

Delegation

The act of assigning responsibility or authority from one person or group to another person or group.

Promisee

In a third-party beneficiary contract, the party to the contract who owes something to the promisor in exchange for the promise made to the third party.

Principal

The initial sum of money that is invested or lent, used as the foundation for calculating interest and returns.

Assignor

An individual or entity that transfers the rights or interests of a contract to another party, known as the assignee.