The difference between fraud and errors is:
A) the materiality of the value involved.
B) intent of those involved.
C) whether it affects owners' equity or not.
D) All of the choices are correct.

Question

Quizplus · Accepted Answer

Fraud involves intentional misrepresentation or deception for personal gain, whereas errors are unintentional mistakes. Materiality and impact on owners' equity may also be factors, but the key distinction is the intent of those involved.

The Difference Between Fraud and Errors Is