According to the 2017 Identity Fraud Study by Javelin Strategy

question 94

Multiple Choice

According to the 2017 Identity Fraud Study by Javelin Strategy & Research, how much did consumers lose to identity fraud in 2016?

• A) $1.6 million
• B) $16 million
• C) $160 million
• D) $1.6 billion
• E) $16 billion

---

Definitions:

Bad Debt Expense

Money that is not recoverable from debtors and is considered a loss for the business because it is uncollectable.

Allowance for Doubtful Accounts

A contra-asset account used to estimate the portion of a company's accounts receivable that may ultimately be uncollectible.

Sales Discount

A reduction in the price of goods or services offered to customers, typically to prompt early payment or bulk purchases.

Gross Profit

The difference between sales revenue and the cost of goods sold, indicating the profitability of selling goods and services.