The Primary Responsibility for the Prevention and Detection of Fraud

question 1

Multiple Choice

The primary responsibility for the prevention and detection of fraud rests with ________.

• A)external auditors
• B)internal auditors
• C)management
• D)the Audit Committee

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Definitions:

Cost Estimation

The process of predicting the amount of resources, especially financial, required to complete a project or produce a product.

Pricing Constraints

Factors that limit the range of prices a firm may set.

Corporate Goals

The strategic objectives that a company aims to achieve, which guide its business operations and decision-making processes.

Product Obsolescence

Occurs when a product becomes outdated or no longer useful due to technological advancements, changes in consumer preferences, or market conditions.