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?

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