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Firdavs [7]
3 years ago
6

In one of the case studies in the textbook, Bill Gurado was a branch manager for a consumer-loan finance company in New Orleans

who decided to help himself to the daily deposits. Instead of depositing the money into the company's bank account, he deposited the money into his own personal account. How was Gurado's fraud discovered
Business
1 answer:
dlinn [17]3 years ago
4 0

Answer:

He suspected he was on the verge of being caught, called the company's president, and confessed that he had taken the money.

Explanation:

Fraud is an act of misrepresentation of facts in order to gain an unfair advantage and wrongful ownership of an asset that is not one's own.

It is the act of converting another's property to oneself through illegal activities.

In this instance Bill was depositing funds into his personal account. He eventually confessed to the fraud.

A statement review of the customer account would have easily uncovered the fraud committed.

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Answer:

E:  a debt of $10.7 trillion and a deficit of zero.

Explanation:

Deficits are usually financed by debt. Here the government has incurred an extra debt of $700 billion. The previous debt of $10 trillion may have been due to any reason and not necessarily deficit. However, the passage does not state if the extra debt is due to deficit or not. So it is safe to select option E.

Hence, the government has incurred a total debt of $10.7 trillion and a deficit of zero.

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4 years ago
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Aleksandr [31]

Answer:

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