Which of the Following Statements Accurately Describes a Fidelity Bond

question 13

Multiple Choice

Which of the following statements accurately describes a fidelity bond?

• A)Procedures to provide reasonable assurance that the objectives of a company are accomplished.
• B)Proper procedures for processing transactions.
• C)Insurance that the company buys to protect itself from loss due to employee dishonesty.
• D)Guidelines or policies that limit the actions of different levels of management.

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Definitions:

Directors' Meeting

A formal gathering of the board of directors of a corporation to discuss and make decisions on company policy and management.

Internet Platform

Digital platforms operating online, providing a range of services, including social media, e-commerce, and information exchange.

Audio And Video

Technologies and devices used to record, transmit, store, process, and playback sound and visual media files.

Vicarious Liability

Holding one person or entity legally responsible for the actions of another, typically an employee or agent.