A person understating income or claiming personal expenses as business expenses is guilty of _____.

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Skimming is the act of taking cash off the top of a business's revenue and not reporting it, which is an example of understating income. It is illegal and considered a form of fraud. Bait and switch involves advertising a product at a low price to get customers interested, only to switch them to a more expensive one later. Scaling refers to adjusting the size or proportion of something, and relativism is a philosophical concept referring to the idea that morality is relative to the individual or culture.

A Person Understating Income or Claiming Personal Expenses as Business