What Is One Common Way to Hide a Theft

question 39

Multiple Choice

What is one common way to hide a theft?

• A)by creating cash through the transfer of money between banks
• B)by the conversion of stolen assets into cash
• C)by stealing cash from customer A and then using customer B's balance to pay customer A's accounts receivable
• D)by charging the stolen item to an expense account

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Definitions:

Possession

The state of having, owning, or controlling something, either tangibly or legally.

Holder In Due Course

A legal term for a person who has obtained a negotiable instrument in good faith and for value, and thus has certain rights above the original payee.

Breached The Contract

The act of failing to perform obligations stipulated in a contract, leading to a violation of the agreement.

Defense Against Payment

A situation where payment is withheld until certain conditions are met or issues are resolved.