Question

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

Answer 1

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

What is Lapping?

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 B. applying cash receipts 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

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