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Yanka [14]
3 years ago
11

Compare the strengths and weakness of the traditional fraud detection techniques with the machine learning techniques for fraud

detection?
Business
1 answer:
scoundrel [369]3 years ago
6 0
The traditional methods when it comes to fraud detection has proven to be quite effective for a much longer period of time compared to the machine learning techniques. This is because it supervised by a trained individual. This means that that person is in charge of manually observing transactions in an effort to discover & apprehend fraudulent behavior. Its strength right now really relies on its longevity in its application.

But with the advent of technology, more and more data are available & transactions happen with every millisecond that passes. Add to that the fact that those who commit fraud have also gotten quite sophisticated in their methods. To be able to cope with the rising need for detecting fraud in real-time, machine learning techniques or unsupervised techniques have been proven to be more useful & more effective in detecting small anomalies within large data sets.
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Which of the following statements is false? A. Cash dividends should be recorded as a liability when they are declared by the bo
xenn [34]

Answer:

The answer is: B) FICA taxes withheld from employees' payroll checks should never be recorded as a liability since the employer will eventually remit the amounts withheld to the appropriate taxing authority.

Explanation:

FICA taxes (or payroll taxes) are based on an employee's salary. Both employees and employer pay FICA taxes for Social Security and Medicare. Employers withhold these taxes from their employees' paychecks, and then pays them to the Internal Revenue Service (IRS).

3 0
3 years ago
Who benefits from an import-substitution strategy? who is harmed?
Aloiza [94]

Answer:

Import substitution industrialization (ISI) is a trade and economic policy which advocates replacing foreign imports with domestic production. Domestic consumers benefit from import substitution as they do not have to face strong competition from foreign competitors and can sell their goods at a higher price. So for example manufacturers in USA sell a battery from $10 but consumers from USA have the option to import that battery at $7 from China the US manufacturers wont be able to compete as Chinese companies have lower cost of production therefore they can sell cheaper and in order to protect the local manufacturers the government may use an ISI strategy to help the local manufacturers. On the other hand consumers are harmed from this strategy as they cannot buy the cheaper product because of change in government strategy. So consumers who were buying the battery at $7 not have to buy it at $10.

Explanation:

5 0
3 years ago
Accruals recorded in the Salaries and Wages Expense and Salaries and Wages Payable columns of the balance sheet and income state
zhenek [66]

Answer:

Incurred but unpaid

Explanation:

When wages and salaries are incurred by an entity and paid, the entries required are debit Wages and Salaries expense, credit cash account. However, when the expense is incurred but cash is yet to be paid, this represents a liability to the organization and as such, an accrual is required. The entries to be posted are debit Wages and salaries expense (in the income statement), credit Accrued wages and salaries (in the balance sheet).

4 0
3 years ago
If the general education level within a country rises significantly over time, it is likely that: the country’s production possi
kiruha [24]

Answer: Option (D) is correct.

Explanation:

Correct: The country’s production possibilities curve will shift out.

The production possibility frontier shows different combination of two goods that are to be produced with the available resources. It also shows the point on the curve which represents the efficient level of quantity to be produced.

So, if there is any improvement in the factors such as technology advancement and level of education will generally results in higher economic growth and increase in the level of output.  

Hence, there is an outward shift in the production possibility frontier.

6 0
3 years ago
A letter provided by the tenant to the landlord, which assures that their lease is binding, accurate, and being paid upon, is kn
olga_2 [115]

A letter provided by the tenant to the landlord, which assures that their lease is binding, accurate, and being paid upon, is known as an estoppel letter.

Letters have long been an essential supply of biographical information, and an effective device for historians of all kinds. They permit the reader to peek backstage and might offer a feel of intimate expertise of historic subjects, even supposing this intimacy is borrowed or stolen.

Informal letters are non-public letters that might be written to allow your buddies or own circle of relatives to realize approximately what goes on in your lifestyle and to bring your regards. A casual letter is typically written to an own circle of relatives member, a near acquaintance, or a friend. The language utilized in a casual letter is informal and non-public.

A letter is stated to be casual while it's far written in a pleasant way, to a person you're acquainted with. Formal letters are written for reputable or expert communication. On the opposite hand, casual letters are used for informal or non-public communication. There is a way prescribed for writing formal letters.

Learn more about the letter here brainly.com/question/9425444

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7 0
1 year ago
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