Which of the Following Scenarios Involves Skimming

question 35

Multiple Choice

Which of the following scenarios involves skimming?

• A) Ian deducted cash from check deposits of the company.
• B) Keith removed cash from the safe after it had been entered into the cash book.
• C) Natalie removed cash from the register before the entries were made into the books of accounts.
• D) Olivia made false entries in a cash register to conceal the cash she removed without authorization.

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Definitions:

Withdrawals

The act of taking money out of an account, fund, or similar financial vehicle.

Invest

To allocate money in the expectation of some benefit in the future, usually through the purchase of assets with the hope that they will increase in value.

Ordinary Annuity

Continuous uniform payouts effected at every period’s cessation over a stipulated time frame.

Compounded Quarterly

A method of calculating interest where the interest earned is added to the principal four times a year, leading to interest on interest.