Describe two kinds of fraud
What will be an ideal response?
Answer: Misappropriation of assets, or theft, by a person or group for personal financial gain is usually committed by employees. Fraudulent financial reporting is intentional or reckless conduct that results in materially misleading financial statements.
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Which of the following is a goods-and-services combination?
A) a bicycle B) a milk shake at an ice cream store C) chocolate chips D) a train ride E) a music lesson
Marginal analysis is most appropriately described as
A) matching problems with appropriate strategies to deal with them. B) examining changes in variables that are related to controllable decision inputs. C) looking at the "next-best" strategy when "first-best" isn't available. D) balancing consumption and investment budgets.