Find the correct option, the option that is not one of the three elements of fraud triangle.

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 7, Problem 1SSQ

To determine

Find the correct option, the option that is not one of the three elements of fraud triangle.

Expert Solution & Answer

Answer to Problem 1SSQ

Option (c) is the correct answer.

Explanation of Solution

Fraud: Fraud is a deliberate and deceptive action of an employee to obtain unlawful gain from the employer.

Elements of fraud triangle:

1. Pressure
2. Rationalization
3. Opportunity

Justification for correct answer: Pressure, rationalization, and opportunity are the three elements of fraud triangle, but embezzlement is not. Hence, option (c) is the correct answer.

Justification for incorrect answers:

Option (a) is incorrect answer because pressure is one of the elements of fraud triangle.
Option (b) is incorrect answer because rationalization is one of the elements of fraud triangle.
Option (d) is incorrect answer because opportunity one of the elements of fraud triangle.

Conclusion

Hence, the correct answer is option (c).

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

Can you help me solve this financial accounting problem using the correct accounting process?

Please show me the valid approach to solving this financial accounting problem with correct methods.

Can you explain the correct methodology to solve this general accounting problem?

Answer 2

Question

Chapter 7, Problem 1SSQ

To determine

Find the correct option, the option that is not one of the three elements of fraud triangle.

Expert Solution & Answer

Answer to Problem 1SSQ

Option (c) is the correct answer.

Explanation of Solution

Fraud: Fraud is a deliberate and deceptive action of an employee to obtain unlawful gain from the employer.

Elements of fraud triangle:

1. Pressure
2. Rationalization
3. Opportunity

Justification for correct answer: Pressure, rationalization, and opportunity are the three elements of fraud triangle, but embezzlement is not. Hence, option (c) is the correct answer.

Justification for incorrect answers:

Option (a) is incorrect answer because pressure is one of the elements of fraud triangle.
Option (b) is incorrect answer because rationalization is one of the elements of fraud triangle.
Option (d) is incorrect answer because opportunity one of the elements of fraud triangle.

Conclusion

Hence, the correct answer is option (c).

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 7, Problem 1SSQ

To determine

Find the correct option, the option that is not one of the three elements of fraud triangle.

Expert Solution & Answer

Answer to Problem 1SSQ

Option (c) is the correct answer.

Explanation of Solution

Fraud: Fraud is a deliberate and deceptive action of an employee to obtain unlawful gain from the employer.

Elements of fraud triangle:

1. Pressure
2. Rationalization
3. Opportunity

Justification for correct answer: Pressure, rationalization, and opportunity are the three elements of fraud triangle, but embezzlement is not. Hence, option (c) is the correct answer.

Justification for incorrect answers:

Option (a) is incorrect answer because pressure is one of the elements of fraud triangle.
Option (b) is incorrect answer because rationalization is one of the elements of fraud triangle.
Option (d) is incorrect answer because opportunity one of the elements of fraud triangle.

Conclusion

Hence, the correct answer is option (c).

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 7, Problem 1SSQ

To determine

Find the correct option, the option that is not one of the three elements of fraud triangle.

Expert Solution & Answer

Answer to Problem 1SSQ

Option (c) is the correct answer.

Explanation of Solution

Fraud: Fraud is a deliberate and deceptive action of an employee to obtain unlawful gain from the employer.

Elements of fraud triangle:

1. Pressure
2. Rationalization
3. Opportunity

Justification for correct answer: Pressure, rationalization, and opportunity are the three elements of fraud triangle, but embezzlement is not. Hence, option (c) is the correct answer.

Justification for incorrect answers:

Option (a) is incorrect answer because pressure is one of the elements of fraud triangle.
Option (b) is incorrect answer because rationalization is one of the elements of fraud triangle.
Option (d) is incorrect answer because opportunity one of the elements of fraud triangle.

Conclusion

Hence, the correct answer is option (c).

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 7, Problem 1SSQ

To determine

Find the correct option, the option that is not one of the three elements of fraud triangle.

Expert Solution & Answer

Answer to Problem 1SSQ

Option (c) is the correct answer.

Explanation of Solution

Fraud: Fraud is a deliberate and deceptive action of an employee to obtain unlawful gain from the employer.

Elements of fraud triangle:

1. Pressure
2. Rationalization
3. Opportunity

Justification for correct answer: Pressure, rationalization, and opportunity are the three elements of fraud triangle, but embezzlement is not. Hence, option (c) is the correct answer.

Justification for incorrect answers:

Option (a) is incorrect answer because pressure is one of the elements of fraud triangle.
Option (b) is incorrect answer because rationalization is one of the elements of fraud triangle.
Option (d) is incorrect answer because opportunity one of the elements of fraud triangle.

Conclusion

Hence, the correct answer is option (c).

Answer 6

Chapter 7, Problem 1SSQ

To determine

Find the correct option, the option that is not one of the three elements of fraud triangle.

Expert Solution & Answer

Answer to Problem 1SSQ

Option (c) is the correct answer.

Explanation of Solution

Fraud: Fraud is a deliberate and deceptive action of an employee to obtain unlawful gain from the employer.

Elements of fraud triangle:

1. Pressure
2. Rationalization
3. Opportunity

Justification for correct answer: Pressure, rationalization, and opportunity are the three elements of fraud triangle, but embezzlement is not. Hence, option (c) is the correct answer.

Justification for incorrect answers:

Option (a) is incorrect answer because pressure is one of the elements of fraud triangle.
Option (b) is incorrect answer because rationalization is one of the elements of fraud triangle.
Option (d) is incorrect answer because opportunity one of the elements of fraud triangle.

Conclusion

Hence, the correct answer is option (c).

Answer 7

Chapter 7, Problem 1SSQ

To determine

Find the correct option, the option that is not one of the three elements of fraud triangle.

Answer 8

Expert Solution & Answer

Answer to Problem 1SSQ

Option (c) is the correct answer.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Explanation of Solution

Fraud: Fraud is a deliberate and deceptive action of an employee to obtain unlawful gain from the employer.

Elements of fraud triangle:

1. Pressure
2. Rationalization
3. Opportunity

Justification for correct answer: Pressure, rationalization, and opportunity are the three elements of fraud triangle, but embezzlement is not. Hence, option (c) is the correct answer.

Justification for incorrect answers:

Option (a) is incorrect answer because pressure is one of the elements of fraud triangle.
Option (b) is incorrect answer because rationalization is one of the elements of fraud triangle.
Option (d) is incorrect answer because opportunity one of the elements of fraud triangle.