Which One of the Following Types of Cash Defalcation Is

question 17

Multiple Choice

Which one of the following types of cash defalcation is LEAST likely to be detected by an auditor?

• A) that which occurs before the cash is recorded
• B) that which involves EFT
• C) that which occurs after the cash is recorded but before it is deposited in the bank
• D) lapping

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Definitions:

Net Operating Income

Measures the profit a company generates from its core business operations, excluding expenses related to interest and taxes.

Selling Price

The price at which a product or service is sold to customers.

Sales Volume

The total number of units sold or services provided by a business within a specific period.

Net Operating Income

Income from a company's everyday operations, excluding non-operating income and expenses like interest and taxes.