Which of the following best describes kiting?
A) Theft of cash for personal use and cover-up using the bank statement.
B) A fraudulent cash scheme to overstate cash assets at year end by manipulating year-end transfers between cash accounts.
C) Manipulation of financial reporting by increasing both cash and debt by the same amount.
D) Colluding to steal cash by wiring money to a fictional vendor and concealing it with customer payments.
Correct Answer:
Verified
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