Which of the Following Defines Lapping

question 12

Multiple Choice

Which of the following defines lapping?

• A) Embezzling one customer's payment and then crediting that customer's account when a subsequent customer pays
• B) Stealing cash from an organization before it is recorded on the organization's books and records
• C) Helping a vendor illegally obtain a contract that should have involved competitive bidding
• D) Demanding a payment from a vendor in order to make a decision in that vendor's favor

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Definitions:

Client-Visits

Instances where a service provider meets with clients at their location or the provider's premises for consultation or business purposes.

Planning Budget

A budget developed at the beginning of the budgeting period that is based on projected levels of activity.

Selling

Expenses incurred directly and indirectly in making sales, including advertising, sales commissions, and the cost of sales personnel.

Administrative Expenses

Overhead or indirect costs related to the general operation of a company, such as office supplies, legal fees, and management salaries.