A person in a position of financial trust transfers money from the corporation into a personal account. This is known as ______.

Question

Quizplus · Accepted Answer

Embezzlement is the act of withholding assets for the purpose of conversion of such assets, by one or more individuals to whom the assets were entrusted, typically to be held or used for other purposes such as investment or company expenses. In this scenario, transferring money from the corporation into a personal account constitutes embezzlement.

A Person in a Position of Financial Trust Transfers Money