Asked by Waldie Alameda on May 26, 2024
Verified
Jenny,an employee of Toucan Company,used company assets for her own personal gain.This is an example of:
A) employee advance.
B) fraud.
C) internal control.
D) ethics.
E) employment perks.
Fraud
Wrongful or criminal deception intended to result in financial or personal gain.
Company Assets
Resources owned by a company that have economic value and can be used to meet debts, commitments, or investments.
Personal Gain
The benefit or advantage acquired by an individual from a particular scenario or transaction, often financial in nature.
- Realize the importance of internal controls and ethical behavior in financial management.
Verified Answer
SR
Shruti RajauriyaMay 29, 2024
Final Answer :
B
Explanation :
Jenny's action of using company assets for personal gain is considered fraud, as it is a deliberate attempt to deceive the company for personal benefit.
Learning Objectives
- Realize the importance of internal controls and ethical behavior in financial management.