A situation where the organization's cash is stolen after it is entered in the accounting records is termed:

Question

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Larceny is the act of stealing cash or other assets from an organization after they have been recorded in the accounting records. This differs from skimming, which involves stealing cash before it is recorded, and collusion, which involves two or more individuals working together to steal from the organization. A kickback involves a recipient receiving a portion of a payment made by an organization in return for favorable treatment, which is not related to this scenario.

A Situation Where the Organization's Cash Is Stolen After It