The correct answer is option B i.e. intent
Fraud is intentional. It is done to secure unlawful gain. When it is done at the management level it is difficult to find out as it is properly concealed.
What is required to prove fraud, as opposed to negligence? a. Gross error b. Intent c....
What is required to prove fraud, as opposed to negligence? a. Gross error b. Intent c. Preponderance of the evidence d. Confession from the perpetrator
correct answer with explanations
A) breach of contract. (B) ordinary negligence. C) privity D) constructive fraud. 21. Lauren hires Humphrey, a CPA, to audit her financial statements. The engagement includes a statement acknowledging that audited financial statements are rear filed with a regulatory body by October 1. Humphrey does eth October 5. Lauren is late filing the financial statements an 4/5 0,0 regulatory body. Lauren would most likely sue Humphrey A) breach of contract. B) ordinary negligence. gross negligence. D)...
Discuss the differences between Fraud and error...What are the necessary components required for a fraud to take place. Include in your analysis the differences between fraudulent financial statements and misappropriation of assets.
9) In a Rule 10b-5 case, ________. A) negligence on the part of the defendant is enough to make the defendant liable B) the plaintiff is generally not required to prove that she relied on the defendant's false statement C) selective disclosure by a defendant doesn't make him liable for omission of material facts D) the plaintiff must prove that the defendant acted with the intent to deceive, manipulate, or defraud
If a company lost $250,000 to fraud and assume the company's gross margin is 15%. How much more revenue does the company need to make in order to recover from the fraud? A. $1,800,000 B. $2,500,000 C. $37,500 D. $1,666,667
To recover damages caused by negligence, one must prove A. duty to care B. breach of duty C. injury D.causation E. all of the above QUESTION 17 Pursuant to Title VI of the Civil Rights Act of 1964, the guidelines of the Department of Health and Human Services prohibit the practice of A. restraint of trade B. racial discrimination C.fee-for-service D.pharmaceutical advertising Which of the following was designed to protect the privacy, confidentiality, and security of patient information? A. 1st...
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17. According to the fraud triangle, what three conditions exist for a traud to A. Control Environment, Objective Setting, Risk Response B. Incentive, Opportunity, Rationalize C. Incentive, Environment, Authorization D. Desire, Disregard, Demeanor 18. A fraud prevention program starts with A. the definition of the scope and ownership of IT process B. a fraud risk assessment across the entire firm C. a network packet D. the fraud triangle that appears to come from a source other than its...
20. All of the following statements concerning the exclusions of gifts from gross income are correct except: (A) The concept of donative intent is based on objective intent. (B) As a general rule gifts between employers and employees are included in the employee's gross income. (C) As a general rule income earned by a gift (e.g., dividends from stock given as a gift) is included in the gross income of the recipient after the gift is consummated. (D) As a...
9. Per the Fraud Examiners Manual, what covers what counts as evidence, the conditions of its admissibility in court, and the methods that authorities must use in acquiring and processing evidence? A. The Federal Rules of Evidence. B. The Federal Advisory Committee on Rules of Practice and Procedure. C. The Federal Regulations of Substantiation. D. The Uniform Guidelines of Imperatives 11. Per the Fraud Examiners Manual, which of the following best describes state procedural rules? A. Most states do not...
questions 1-3.
Question (1): When a fraud has occurred within the organization, management must decide what follow up action to take. (a) What are three action alternatives available to organizations? (b) Sometimes when this occurred, why might management decide to avoid taking legal action against fraud perpetrators? What are the perceived benefits of inaction? What are the costs? Question (2): For each of the following, identify whether the evidence would be classified as testimonial exidence documentary evidence, physical evidence, or...