The Primary Way That Fraud Is Prevented and Detected Is

question 7

Multiple Choice

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

• A) checks and balances.
• B) management directives.
• C) internal control.
• D) internal and external audits.

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Definitions:

Opportunity Cost

Represents the benefits an individual, investor, or business misses out on when choosing one alternative over another.

Tractor

A powerful vehicle designed primarily for agricultural use, to pull farm machinery and plough agricultural land.

Motorcycle

A two-wheeled motorized vehicle, widely used for both transportation and recreation.

Comparative Advantage

A principle that states a country should produce and export goods for which it has a lower opportunity cost compared to other countries.