Question
Which of the following term describes the concealment
of shortage by delaying the recording of cash receipts?Solution
Lapping is a type of fraud which occurs when an employee alters accounts receivable records in order to hide the theft of cash . This is done by diverting a payment from one customer, and then hiding the theft by diverting cash from another customer to offset the receivable from the first customer.
APPLICATION: NOITACILPPA::UNIVERSE: ?
What comes in place of ___(B)___?
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