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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 (B)</p> Signup and view all the answers

What is the essence of fraudulent behavior?

<p>Deception for personal gain (C)</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.