Which of the Following Statements About the Lapping of Accounts

question 122

Multiple Choice

Which of the following statements about the lapping of Accounts Receivable is TRUE?

• A)Lapping is a type of fraud perpetuated by an employee.
• B)Lapping is also referred to as a misappropriation of assets.
• C)Lapping arises from a weak internal control system.
• D)All of the above are true.

---

Definitions:

Military Draft

A system of compulsory recruitment for armed forces by a government, often implemented during times of war.

Historically Black Colleges

Institutions of higher education in the United States established before 1964 with the intention of serving the African-American community.

Black Studies Programs

Academic programs focusing on the study of Black history, culture, and the African diaspora, typically found in higher education institutions.

Graduation Rates

The percentage of students who complete their studies and receive a degree or diploma within a set period, often used as a measure of an educational institution's success.