Accountancy, asked by anilthakulla222, 11 months ago

difference between error and fraud

Answers

Answered by vishal7999
1

error is done by mistake

fraud is done by their own

Answered by harshmishramishraji
0

Answer:

Fraud is a delibrate act done by a cunning person to mislead people about the truth and seriously hurt the intended person or organisation, which if caught, could end up in jail.

Eg : Embezzlement / Misappropriation of cash, stealing from the company resources and showing that the stock was not received or damaged due to unknown reasons etc...

Errors (either major or minor) are made unknowingly (also called mistakes) by anyone who lacks knowledge or due to oversight on the part of the individual, which if caught, can be corrected by taking appropriate measures to prevent it from happening again.

Eg : Typing errors, Missing out on the formula in excel etc....

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