what is fraud?\na. fraud is untruthful financial reporting.\nb. fraud is the intentional misrepresentation…

what is fraud?\na. fraud is untruthful financial reporting.\nb. fraud is the intentional misrepresentation of facts made for the purpose of persuading another individual to act in a way that causes injury or damage to that individual.\nc. fraud is the misappropriation of assets.\nd. all of the above

what is fraud?\na. fraud is untruthful financial reporting.\nb. fraud is the intentional misrepresentation of facts made for the purpose of persuading another individual to act in a way that causes injury or damage to that individual.\nc. fraud is the misappropriation of assets.\nd. all of the above

Answer

Brief Explanations:

  • Option A: Untruthful financial reporting (like misstating financials) is a type of fraud (financial statement fraud).
  • Option B: The intentional misrepresentation to cause harm (e.g., scamming someone) fits the definition of fraud.
  • Option C: Misappropriation of assets (embezzlement, stealing company assets) is also fraud (asset misappropriation).
  • Since A, B, and C all describe different forms of fraud, "all of the above" is correct.

Answer:

D. all of the above