Which of the following is considered a fraudulent activity?
A. A mistake in gathering or processing accounting data from which financial statements are prepared.
B. An incorrect accounting estimate arising from oversight or misinterpretation of facts.
C. Misappropriation of assets.
D. A mistake in the application of accounting principles relating to amount, classification, manner of presentation, or disclosure.
Ans: C. Misappropriation of assets.
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