Which of the following best describes lapping?
A) Applying cash receipts to a different customer's account in an attempt to conceal previous thefts of cash receipts.
B) Inflating bank balances by transferring money among different bank accounts.
C) Increasing expenses to conceal that an asset was stolen.
D) Stealing small amounts of cash, many times over a period of time.

Question

Quizplus · Accepted Answer

Lapping involves applying cash receipts to a different customer's account to conceal previous thefts of cash receipts, creating a cycle of misappropriation.

Which of the Following Best Describes Lapping