During a concealment investigation, an investigator fails to recognize that an invoice had been forged. This represents a:

a. sampling risk.
b. non-sampling risk.
c. systematic risk.
d. systemic risk.

b
FEEDBACK: a. Incorrect.
b. Correct.
c. Incorrect.
d. Incorrect.

Business

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If there is an issue not covered by operating agreement or state statute, such as authority of individual members, courts often apply _____________ laws.

Fill in the blank(s) with the appropriate word(s).

Business

Albert gave his friend Baker a deed to a property, which Baker recorded. A year later, Albert and Baker had a dispute. Albert demanded the return of the property because Baker had not given any consideration for the property transfer. Assuming there was no consideration, which statement is correct?

A. Albert can obtain revocation because of lack of consideration. B. The agreement is void because of lack of consideration. C. Albert is entitled to the fair market value of the property conveyed. D. Baker can keep the property, which was a completed gift.

Business