Occupational Fraud and Abuse
Question
Occupational fraud and abuse is a (an) __________ of doing business, in much the same way that we pay expenses for electricity, taxes and wages.
Answers
Explanations
Click on the arrows to vote for the correct answer
A. B. C. D.C
The correct answer is (C) Expense.
Occupational fraud and abuse is a form of dishonesty committed by employees against their employers. This type of fraud can take many forms, such as embezzlement, financial statement fraud, corruption, and asset misappropriation.
In the context of the question, the comparison to "paying expenses for electricity, taxes and wages" suggests that occupational fraud and abuse is a cost of doing business, similar to these other expenses. This makes sense, as fraud can cause significant financial losses for organizations, such as theft of assets or loss of revenue due to fraudulent activities.
Therefore, (C) Expense is the most appropriate answer, as occupational fraud and abuse is not an equity, balance sheet, or financial record.
