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

What is Parker's 2022 return on common stockholders equity on these financial accounting question?

What is the amount and character of Jessica's recognised gain or loss on the sale for this financial accounting question?

What are the beginning and ending amounts of equity on these general accounting question?

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.