Lapping Is a Fraudulent Scheme to Steal Cash Through Misappropriating

question 79

True/False

Lapping is a fraudulent scheme to steal cash through misappropriating certain customer payments and posting payments from other customers to the affected accounts to cover it up.

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Definitions:

Special Duties

Obligations or responsibilities that are distinctive to a particular role, profession, or situation, often beyond ordinary duties.

Self-Interest

The consideration of one's personal benefit or advantage, especially when pursued without regard to others.

Economic Duress

Involves a situation where a party is forced into an agreement through wrongful economic pressure or threats, compromising their free will.

Employment Contract

A formal agreement between an employer and an employee that outlines the terms of employment, including duties, salary, and duration.