1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Thepotemich [5.8K]
1 year ago
11

Lapping is best described as the process of Group of answer choices inflating bank balances by transferring money among differen

t bank accounts. applying cash receipts to a different customer's account in an attempt to conceal previous thefts of cash receipts. increasing expenses to conceal that an asset was stolen. stealing small amounts of cash, many times over a period of time.
Business
1 answer:
Artemon [7]1 year ago
3 0

Lapping is best described as the process of <u>B. applying </u><u>cash receipts</u> to a different customer's account in an attempt to conceal previous thefts of cash receipts.

<h3>What is Lapping?</h3>

Lapping is an employee stealing scheme revolving around the application of cash receipts.

Lapping can be traced by tracing the application of cash receipts to customers' accounts.

Routine application of cash receipts to wrong customer accounts proves evidence of a lapping scheme.

Thus, Lapping is best described as the process of <u>B. applying </u><u>cash receipts</u> to a different customer's account in an attempt to conceal previous thefts of cash receipts.

Learn more about lapping schemes at brainly.com/question/14846195

#SPJ12

You might be interested in
Us federal income tax is progressive by law, but which best explains why is it sometimes regressive in practice?
Solnce55 [7]
I believe the answer is: High-income earners use tax laws to their advantage to reduce their tax rates

High income earners tend to possess financial knowledge or ability to allow experts who understand the full scope of taxation laws and how to recorded the transactions in a way that make it eligible for tax deduction. This makes a lot of high income earners manage to avoid paying taxes even if they manage to obtain a lot of profit.
3 0
3 years ago
Read 2 more answers
Roth Service Co. experienced the following transactions for 2018, its first year of operations: Provided $80,000 of services on
Stels [109]

Answer and Explanation:

a. The preparation of income statement is shown below:-

                               Income Statement

Service revenue                               $80,000

operating expenses  

Salary expenses           $28,000

Uncollectible accounts

expense                        $3,273

Total operating expense                   $31,273

Net income                                         $48,727

Working Note :-

Days       Amount     Percentage     Allowance balance

Current   $16,800       0.01                  $168

0-30         $5,100        0.05                 $255

31-60       $4,000        0.10                  $400

61-90       $2,000        0.30                 $600

Over 90

days         $3,700       0.50                  $1,850

Total        $31,600                                $3,273

b. The computation of net realizable value of the accounts receivable is shown below:-

Net realizable value = Accounts receivable - Allowance for doubtful accounts

= ($80,000 - $48,400) - $3,273

= $31,600 - $3,273

= $28,327

4 0
3 years ago
Shuai is writing a report with a great deal of complicated numerical information. to clarify and simplify this information for d
AveGali [126]

She should put this into a chart or graph. This is a graphical illustration of data, in which "the data is characterized by symbols.” By organizing data, it can be more effortlessly understand what has been perceived. Subsequently, most of the data is quantitative, data tables and charts are typically used to consolidate the information. Graphs are shaped from those data tables.

6 0
3 years ago
Type the correct answer in the box. Spell all words correctly.
Alika [10]

Answer:

its to easy

Explanation:

i know it

7 0
2 years ago
Entrepreneurs affect the economic decisions a country makes by:
xeze [42]

Answer:

D. identifying new ways for people to fulfill their wants and needs

Explanation:

Entrepreneurs start new businesses in society. They are quick to spot and identify needs and wants in the market. Entrepreneurs establish businesses to provide solutions to these needs and want at a profit.

Entrepreneurs use their creativity to come up with new and unique products that offer solutions to society's problems. They innovate better products and ways of offering services that are friendly and more cost-effective. Entrepreneurship goes hand-in-hand with creativity and innovation.

8 0
2 years ago
Other questions:
  • Probably the most critical 'premise' of the marketing concept is that the firms should focus on identifying and satisfying custo
    12·1 answer
  • Which of the following describes the expected outcome of expansionary monetary policy in the short run?
    14·1 answer
  • Old Economy Traders opened an account to short sell 1,000 shares of Internet Dreams from the previous problem. The initial margi
    6·1 answer
  • Ethiopia has a GDP of $8 billion (measured in U.S. dollars) and a population of 55 million.
    6·1 answer
  • To say that a price ceiling is binding is to say that the price ceiling a. results in a shortage. b. is set below the equilibriu
    6·1 answer
  • 2. Make a list of at least 5 business ideas that interest you. Then explain which one you think is the best opportunity for you.
    11·2 answers
  • For each of the following item below, indicate to which category of elements of financial statements it belongs.
    11·1 answer
  • Khfhggjjv,gkjbmmjhbb.l
    10·1 answer
  • Joe and Janice run an accounting firm. The firm receives $5,000,000 as income from its services. It pays an annual rent for offi
    12·1 answer
  • To qualify for a mortgage loan originator endorsement, applicants must meet education, examination, credit report, and ______ re
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!