The Three Elements of the Fraud Triangle Are

question 37

Multiple Choice

The three elements of the fraud triangle are:

• A)Motive.
• B)Rationalization.
• C)Opportunity.
• D)All of the other answers are elements of the fraud triangle.

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Definitions:

Break-Even Point

The moment when the sum of all expenses matches the sum of all income, resulting in neither a profit nor a loss.

Revenue

The total income generated from the sale of goods or services related to a company's primary operations.

Break-Even Point

The stage at which total costs and total revenues are exactly equal, meaning no profit nor loss is being made, having no net effect on the financial position.

Break-Even Volume

The quantity of goods or services sold at which total revenues equal total costs, resulting in neither profit nor loss.