Lapping Is Best Described as the Process of

question 13

Multiple Choice

Lapping is best described as the process of

• A)applying cash receipts to a different customer's account in an attempt to conceal previous thefts of cash receipts.
• B)inflating bank balances by transferring money among different bank accounts.
• C)stealing small amounts of cash,many times over a period of time.
• D)increasing expenses to conceal that an asset was stolen.

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Definitions:

Marginal Utility

The incremental pleasure or value received from consuming one more unit of a good or service.

Marginal Utility Schedules

Tables or graphs that show the relationship between the quantity of a good consumed and the utility (satisfaction) that is gained from each additional unit.

Total Utility

The complete satisfaction or advantage gained from consuming a specified overall amount of a product or service.

Utility-Maximizing

A principle of economics that assumes consumers aim to achieve the highest level of satisfaction possible from their available resources.