A: Correct. B: Incorrect. Stealing cash from an organization prior to the organization's accounting system recording the cash receipt is a skimming scheme. C: Incorrect. Helping a vendor illegally obtain a contract that was supposed to involve competitive bidding is a bid-rigging scheme. D: Incorrect.

Solved

Lapping Is

Question 9

Multiple Choice

Lapping is:

A) Stealing one customer's payment and then crediting that customer's account with a subsequent customer's payment.
B) Stealing cash from an organization prior to the organization's accounting system recording the cash receipt.
C) Helping a vendor illegally obtain a contract that should have involved competitive bidding.
D) None of the above.

Correct Answer: