The Fraudulent Appropriation of the Property or Money of Another

question 119

Multiple Choice

The fraudulent appropriation of the property or money of another by a person entrusted with that property or money is called

• A) embezzlement.
• B) larceny.
• C) robbery.
• D) burglary.

Recognize the components and support documents of a voucher system.

Comprehend the necessity of cash control measures for protecting against theft and misuse.

Analyze bank reconciliation components to adjust the book and bank balances.

Apply knowledge of miscellaneous bank transactions (NSF checks, bank service charges) in reconciling and recording in company books.

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Definitions:

Truth in Lending Act

A U.S. federal law enacted in 1968 to help protect consumers in their dealings with lenders and creditors by requiring clear disclosure of key terms of the lending arrangement and all costs.

Mortgage

A loan specifically used to purchase real estate, where the property itself serves as collateral for the loan.

Finance Charge

Fees and interest charges associated with the borrowing of money or the extension of credit.

Installments

Periodic payments made towards settling a debt or purchasing a good, spreading out the total cost over a period of time.