The Primary Way That Fraud Is Prevented,detected,or Corrected Is Through

question 117

Multiple Choice

The primary way that fraud is prevented,detected,or corrected is through a proper system of:

• A)ethical standards and a code of ethics.
• B)policies developed by upper management.
• C)internal control.
• D)internal and external audits.

---

Definitions:

AVC Curve

The Average Variable Cost (AVC) Curve is a graphical representation showing the relationship between a firm's output level and its average variable cost.

Break-Even

The point at which total costs equal total revenue, resulting in no net loss or gain for a business.

Shut Down

A short-term decision by a firm to cease production due to unfavorable market conditions, without permanently exiting the market.

Total Cost

A rephrased definition: The aggregate expenditure associated with the manufacture or delivery of products or services, encompassing variable, fixed, and any additional costs.