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14 August, 03:38

The stock market has been in a bullish trend for several months. However, a NYSE stock your customer owns recently reported an accounting scandal, and it has lost 20% of its value in the last week. The customer calls and wants to sell the security. What kind of risk was the customer exposed to?

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  1. 14 August, 03:53
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    Detection risk

    Explanation:

    Detection risk is the things that a business accounting auditors or external accounting auditors fail to detect or detect at a later stage like what happened here in this example about the NYSE accounting scandal, examples of detection risk would be fininacial statement fraud or skimming and accounting scandal
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