What is Fraud?
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Questions and Answers

What is fraud characterized as?

  • A wrongful or criminal deception (correct)
  • A justified means to achieve success
  • A legitimate business practice
  • A minor offense with no consequences

    • What is often the motive behind fraudulent activities?

  • To help the community
  • To follow lawful business practices
  • To gain financial or personal advantage (correct)
  • To harm others

    • Which of the following best describes the nature of fraud?

  • A victimless crime
  • A non-criminal offense
  • A violent crime
  • A wrongful or criminal deception (correct)

    • What is often the result of fraudulent activities?

    <p>Financial or personal gain for the perpetrator</p> Signup and view all the answers

    What is the essence of fraudulent behavior?

    <p>Deception for personal gain</p> Signup and view all the answers

    Study Notes

    Definition of Fraud

    • Fraud involves wrongful or criminal deception
    • The deception is intended to result in financial or personal gain

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    Description

    Learn about the concept of fraud, including its definition and characteristics. Understand how fraud involves wrongful or criminal deception for financial or personal gain.

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