Which of the following is a fraud in which later payments on account are used to pay

Question:

Which of the following is a fraud in which later payments on account are used to pay off earlier payments that were stolen?

a. lapping

b. kiting

c. Ponzi scheme

d. salami technique

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting Information Systems

ISBN: 12

11th Edition

Authors: Marshall RomneyPaul Steinbart

See More Books

Question Posted: May 18, 2024 11:09 PM

See More Questions

1. Hannah is applying for a life policy on her girlfriend Sarahs life. The policy is $500,000 and carries a large premium. Hannah is the main earner, so she is concerned about not being able to pay...
Multiple choice 1. Cable Corporation orally engaged Drake & Company, CPAs, to audit its financial statements. Though the financial statements Drake audited included a materially overstated accounts...
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
Okay Optical, Inc., (OOI) began operations in January 2013, selling inexpensive sunglasses to large retailers like Walgreens and other smaller stores. Assume the following transactions occurred...
For every x, y in an inner product space, |xT y| ||x|| ||y||
Complete De Morgans laws: (a) (A B)' = ______ (b) (A B)' = ________ Fill in the blank with an appropriate word, phrase, or symbol(s).
18-12. Qu promocin orientada al comercio se usa en forma continua?
Two staff analysts for the city of Bridgmont, Pennsylvania, disagree regarding the effects of seniority and continuing education on promotions in the city government. One of them believes that...
Sunland Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2019 and 2020 follow. Sunland Medical Comparative...
Which of the following is/are methods of reducing fraud losses once fraud has occurred? (There may be more than one right answer.) a. insurance b. regular backup of data and programs c. contingency...
Public charities are strictly prohibited from engaging in political campaigns for or against a candidate. Why do you think this is the case?
The tension in a string is 15 N, and its linear density is 0.85 kg/m. A wave on the string travels toward the -x direction; it has amplitude of 3.6 cm and a frequency of 12 Hz. What are they? (a)...
As the human resource manager, how would you evaluate the training needs of your staff? How can you ensure that the training you would provide is effective? What data might be used to make your...
MARYLAND CORPORATION manufactures three liquid products - Alpha, Beta and Gamma using a joint process with direct materials, direct labor and overhead totaling $560,000 per batch. In addition, the...
Three common organizational structures. Mention one organization for each organizational structure which is following a specific organizational structure. Also, provide support to your answer by...
You are a retail manager at Kitchen Nightmare, a relatively new store at the mall that sells mostly items for kitchens, like forks, oven mitts, etc.. You have been open since the fall of 2021 and...
Examine the extent to which the Department of Veteran Affairs has established any processes or procedures to ensure knowledge retention of departing employees. Why is it important to manage the...
What are some of the factors that cause organizations to redesign their products or services?
Cleaning Service Company's Trial Balance on December 31, 2020 is as follows: Account name Debit Credit Cash 700 Supplies Pre-paid insurance Pre-paid office rent Equipment Accumulated depreciation -...
Jeannie is an adjunct faculty at a local college, where she earned $680.00 during the most recent semimonthly pay period. Her prior year-to-date pay is $18,540. She is single and has one withholding...
The company sold merchandise to a customer on March 31, 2020, for $100,000. The customer paid with a promissory note that has a term of 18 months and an annual interest rate of 9%. The companys...
imer 2 0 2 4 Question 8 , PF 8 - 3 5 A ( similar to ) HW Score: 0 % , 0 of 1 0 0 points lework CH 8 Part 1 of 6 Points: 0 of 1 5 Save The comparative financial statements of Highland Cosmetic Supply...

Which of the following is a fraud in which later payments on account are used to pay

Question:

Step by Step Answer:

Accounting Information Systems

Students also viewed these Business questions