Final answer:
Asset misappropriation involves an employee illicitly using a company's assets for personal gain, typically by creating a fraudulent check for themselves, and is correctly identified in option (a). It is distinct from other forms of fraud and corrupt practices and can be related to the non-fulfillment of a contract, which infringes on property rights.
option a is the correct
Step-by-step explanation:
Asset misappropriation is a term used to describe fraudulent activities where an employee illicitly takes advantage of the company's assets for personal gain. The correct answer to the question is option (a). This is because asset misappropriation includes schemes where an employee might prepare a fraudulent check with the intention to benefit themselves personally.
It is important to distinguish between different types of fraudulent activities. For example, demanding payment in exchange for favorable decisions, typically associated with bribery, is not asset misappropriation, but more closely aligns to corruption. Similarly, soliciting funds for a non-existing investment is considered to be fraud broadly, but not specifically asset misappropriation.
The notion of securing contracts and ensuring they are adhered to is also relevant. In a business context, not fulfilling a contract for services rendered, as in the case of a surgeon not being paid, can be considered a form of theft, which also affects property rights and expectations.
Concepts of Legality and Justification
Employees might try to justify their actions by appealing to higher authorities, such as claiming financial distress due to a sick relative. While these are appeals to emotion, they do not excuse the legality of the actions and remain within the scope of asset misappropriation as corporate crimes, similar to embezzlement.