Which of the following is an example of fraud?
A)A mistake in processing accounting data.
B)An incorrect accounting estimate arising from misinterpretation of facts.
C)Misappropriation of an asset.
D)A mistake in the application of accounting principles.

Question

Quizplus · Accepted Answer

Misappropriation of an asset is an intentional act of fraud involving the theft or misuse of company assets for personal gain. The other choices are errors or mistakes in accounting procedures, which may not necessarily involve intentional deception or misrepresentation.

Which of the Following Is an Example of Fraud