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1889. The most common type of Internet crime according to the IC3 is ______.

Credit card fraud
Check fraud
Non-delivery
Auction fraud
✅ The correct answer is D.
The most common type of Internet crime according to the IC3 is Auction fraud. Internet auction fraud involves schemes attributable to the misrepresentation of a product advertised for sale through an Internet auction site or the non-delivery of products purchased through an Internet auction site.

175. Term ‘Credit’ means _____ by the business

Receiving of benefits
It has no effect on business
Providing benefits
It depends upon items
✅ The correct answer is A.
Term ‘Credit’ means Receiving of benefits by the business. The terms which indicate when payment is due for sales made on account (or credit).

177. Which of the following can be distributed among the shareholders?

Capital reserve
General reserve
Revaluation reserve
All of the above
✅ The correct answer is B.
General reserve can be distributed among the shareholders. General reserve can be used for distribution of dividend among shareholders when profit is insufficient. Reserves and surpluses are shown in liabilities side of balance sheet.

178. Which of the following is a commonly used base to create the provision for doubtful debts?

Total purchases
Total credit sales
Total current assets
Total current liabilities
✅ The correct answer is B.
Total credit sales is a commonly used base to create the provision for doubtful debts. The provision for doubtful debts is the estimated amount of bad debt that will arise from accounts receivable that have been issued but not yet collected. It is identical to the allowance for doubtful accounts.

1875. ________ is a preventive function.

Costreduction
Costcontrol
Costunit
Costcentre
✅ The correct answer is B.
Cost control is a preventive function because it ascertains the cost before its occurrence.

1876. Falling interest rate leads change to bondholder income which is

reduction in income
increment in income
matured income
frequent income
✅ The correct answer is A.
Falling interest rate leads change to bondholder income which is reduction in income. An income bond is a type of debt security in which only the face value of the bond is promised to be paid to the investor, with any coupon payments paid only if the issuing company has enough earnings to pay for the coupon payment.
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