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Fact Pattern 14-1 Beatrice, a Bank Teller, Was Angry with Her Employer, Big

question 26

Multiple Choice

Fact Pattern 14-1
Beatrice, a bank teller, was angry with her employer, Big Bank, because she did not get a raise. Each day she begins to keep for her own use small amounts out of funds deposited by customers at her station. Eventually, she is caught when customers begin to complain about discrepancies, and bank officials conduct surveillance of her actions. Big Bank is very unpopular in the community because of a number of foreclosures. The trial against Beatrice results in a hung jury when the twelve jurors are hopelessly deadlocked, probably because of their dislike of Big Bank. Beatrice is thrilled and believes that she can forget about the whole mess although her cell mate tells her that she may not be out of the woods yet.
-Refer to fact pattern 14-1. What crime had Beatrice committed?

Definitions:

Sales Taxes Payable

A liability account that represents the amount of sales tax collected from customers by a business, which is owed to the government.

Adjusting Entry

A journal entry made in the accounting records at the end of an accounting period to allocate income and expenses to the correct periods.

Unearned Revenue

Money received by a company for a service or product that has yet to be delivered or provided.

Deferred Revenue

Income received by a company for goods or services yet to be delivered or performed, recorded as a liability on the balance sheet until the goods or services are provided.