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Thepotemich [5.8K]
2 years 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]2 years 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

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Periodic review systems require smaller safety stock levels than corresponding continuous review systems. Group of answer choice
xxMikexx [17]

Answer:

The statement is: True.

Explanation:

The periodic review system is a method to keep track of the inventory of a company by reviewing the ledger after specific intervals. On the other hand, the continuous review system requires to take a look at the inventory stock every time part of it leaves or gets into the firm. The periodic review system is more practical because it does not imply having the information of the stock at all times.

6 0
3 years ago
You purchase 4,000 bonds with a par value of $1,000 for $978 each. The bonds have a coupon rate of 7.7 percent paid semiannually
drek231 [11]

Answer:

The amount to be received onthe coupon date is $154000.

The amount to be received at bonds maturity is $4154000.

Explanation:

amount received on the next coupon date = 4000*$1000*7.7%*6/12

                                                                       = $154000

amount to receive when the bonds mature = face value + interest

= 4000*$1000 + $154000

= $4,000,000 + $154000

= $4154000

Therefore, the amount to be received onthe coupon date is      $154000 and the amount to be received at bonds maturity is $4154000.

7 0
3 years ago
Use the following Year 3 data: Other Selling and Administrative Expenses $ 1,052,000 Other Expenses 249,300 Sales Revenue 4,887,
Talja [164]

Answer:

$222,450

Explanation:

Computation of annual income statement for Kvass Inc. is shown below

Sales revenue

$4,887,000

Less:

Selling and admn expenses

($1,052,000)

Other expenses

($249,300)

Advertising and promotion expenses

($553,350)

Salaries and wages expenses

($2,527,800)

Income tax expenses

($167,350)

Interest expense

($114,750)

Net income

$222,450

8 0
3 years ago
Sara is the team leader for the remote coding project team at her hospital. She has brought together coders, IT technicians, and
harkovskaia [24]

Answer:

Forming.

Explanation:

The forming stage includes a time of direction and acclimating. Uncertainty is high during this stage, and individuals are searching for leadership and authority. A member who declares authority or is educated might be hoped to take control.

6 0
3 years ago
The organization that supervises internet addressing is ___________.​
Vlada [557]
<span>The organization that supervises internet addressing is "ICANN".


</span>ICANN stands for the "Internet Corporation for Assigned Names and Number", and it refers to a non-profit association in charge of organizing the support and strategies of a few databases identified with the namespaces of the Internet, guaranteeing the system's steady and secure operation.ICANN plays out the technical maintenance work of the Central Internet Address pools and DNS root zone registries in accordance with the Internet Assigned Numbers Authority (IANA) work contract.
8 0
3 years ago
Read 2 more answers
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