Table of contents

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1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

6. Internal Controls and Reporting Cash

Fraud and the Fraud Triangle

Financial Accounting

6. Internal Controls and Reporting Cash

Fraud and the Fraud Triangle

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Multiple Choice

Which element of the fraud triangle is most directly reduced by installing anti-theft devices in a business environment?

Pressure

Rationalization

Collusion

Opportunity

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Verified step by step guidance

Understand the fraud triangle, which consists of three elements: Pressure, Rationalization, and Opportunity. These elements explain the factors that contribute to fraudulent behavior.

Recognize that 'Opportunity' refers to the ability or chance for an individual to commit fraud due to weak controls or lack of preventive measures.

Learn that installing anti-theft devices is a form of internal control aimed at reducing the chance for fraudulent activities to occur.

Connect the concept of anti-theft devices to the reduction of 'Opportunity' in the fraud triangle, as these devices make it harder for individuals to commit theft or fraud.

Conclude that installing anti-theft devices directly addresses and reduces the 'Opportunity' element of the fraud triangle, thereby strengthening the business environment against fraud.