A Form of Fraud in Which the Payments Made by One

question 47

Multiple Choice

A form of fraud in which the payments made by one customer are systematically applied to the account of another is called:

• A) lapping
• B) malfeasance
• C) pre-posting
• D) knitting

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Definitions:

Indifference Schedule

A graphical representation in economics showing different bundles of goods between which a consumer is indifferent.

Willingness

The readiness of a person to engage in a particular action, especially in terms of purchasing goods or services.

Marginal Utility

The additional utility received from consuming one more unit of a good or service.

Total Utility

The complete happiness or advantage gained from using a specific amount of products or services.