​The Three Components of the Fraud Triangle Are Financial Need

question 82

True/False

​The three components of the fraud triangle are financial need, opportunity, and ability to rationalize.

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Definitions:

Distributive Property

The distributive property is a basic algebraic rule stating that \(a(b + c) = ab + ac\), allowing for multiplication to be distributed over addition or subtraction.

Annual Sales

The total revenue generated from goods or services sold by a business in one year.

Distance Traveled

The total length of the path taken between two points.

Rate

A ratio that compares two quantities of different units, commonly used to describe a time-dependent process such as speed.