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Which of the following best describes what is meant by the term "fraud risk factor?"

a. factors whose presence indicates that the risk of fraud is high

b. factors whose presence often have been observed in circumstances where frauds have occurred

c. factors whose presence requires modification of planned audit procedures

d. reportable conditions identified during an audit

e. none of the above.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M944361

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