Which of the following is NOT a common type of fraud?

Business strategy development is not recognized as a common type of fraud because it involves legitimate practices aimed at improving a company’s performance and achieving strategic goals. In contrast to the other options, which represent deceptive practices intended to result in unlawful gain or financial loss to others, business strategy development focuses on planning, analysis, and decision-making to enhance organizational effectiveness.

Embezzlement, identity theft, and financial statement fraud are all fraudulent activities that involve misrepresentation or misappropriation of funds and information for personal or corporate gain. Embezzlement typically involves employees misusing funds entrusted to them, while identity theft involves stealing personal information for financial gain, and financial statement fraud encompasses misleading financial reporting. These activities undermine financial integrity and can lead to significant legal consequences.