The ACFE Reported That Frauds Are Never Detected as a Result

question 48

True/False

The ACFE reported that frauds are never detected as a result of tips from whistleblowers.

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Definitions:

Cost of Goods Sold

Direct expenditures linked to the creation of goods sold by a business.

Calculate

To determine something mathematically, such as a sum, total, or other numeric value.

Period

A length of time in financial accounting, often used to report earnings or track expenses, such as a quarter or fiscal year.

Days' Sales

A financial metric measuring the average time in days that a company takes to sell its inventory, indicating the efficiency of its sales and inventory management.