A Characteristic of the Fraud Penalties Is

question 147

Multiple Choice

A characteristic of the fraud penalties is:

• A)When negligence and civil fraud apply to a deficiency, the civil fraud penalty predominates.
• B)Civil fraud can result in a fine and a prison sentence.
• C)The criminal fraud penalty is 75% of the deficiency attributable to the fraud.
• D)The IRS has the same burden of proof in the case of criminal fraud than with civil fraud.
• E)None of the above.

---

Definitions:

Monopolist

A monopolist is a sole provider of a good or service in a market, facing no direct competition, which allows for control over prices.

Market Demand

The total quantity of a good or service that all consumers in a market are willing and able to purchase at a given price.

Price Maker

A firm or entity that has the power to influence the price at which a product or service is sold, typically due to a lack of competition or a unique product offering.

Demand Curve

A visual representation indicating the quantity of a good consumers are ready to purchase at various prices, usually sloping downwards to the right.