What Is Lapping Accounts Receivable

question 114

Multiple Choice

What is lapping accounts receivable?

• A)A way to speed up the collection of accounts receivable by calling the debtors every week.
• B)A way to speed up the collection of accounts receivable by sending reminder notices to the debtors every week.
• C)Transferring accounts receivable to another company to collect the receivables.
• D)An embezzlement scheme whereby an employee steals customers' checks and uses devious bookkeeping procedures to conceal the theft.

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Definitions:

International Trade

The exchange of goods and services between countries, which allows for greater variety of consumption and efficiency in production.

Trade Restrictions

Government-imposed limitations on the exchange of goods and services between countries, including tariffs, quotas, and embargoes.

Free Trade

is a policy followed by some international markets in which countries' governments do not restrict imports from, or exports to, other countries.

Domestic Jobs

Employment opportunities within a country's borders, as opposed to jobs located overseas.