In a Fraud Scheme Known as ____, the Perpetrator Attempts

question 64

Multiple Choice

In a fraud scheme known as ____, the perpetrator attempts to cover the theft of cash received from customer A by applying cash collected from customer B to A's account, then applying a receipt from C to B's account, and so forth.

• A)kiting
• B)lapping
• C)schmoozing
• D)hacking

---

Definitions:

Gratuitous Agent

An individual who acts on behalf of someone else without expecting or receiving any compensation for their services.

Sales Agent

An individual or entity authorized to sell and promote products or services on behalf of a company, often earning a commission.

Independent Contractors

Individuals or entities hired to perform specific tasks or services for a company under a contract, without being considered employees of the company.

Principal's Right

This term involves the legal entitlements that a principal (the person for whom an agent acts) holds, especially in matters of agency law, such as the right to direct the agent and be accountable for the agent's acts.