Larceny of Receivable Is Generally Not Concealed Through Which Method

question 51

Multiple Choice

Larceny of receivable is generally not concealed through which method?

• A) Force balancing
• B) Reversing entries
• C) Destruction of records
• D) Including phone checks in the bank deposits

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Definitions:

Credit Balance

The amount of money in a financial account that the account holder can claim, representing a surplus of payments over charges.

Pegboard System

An organizational tool consisting of a board with holes into which pegs are placed to hang tools, keys, or other items, often used in retail or workshop settings.

Daily Entries

Regular, often daily, written records or notations of events, transactions, observations or personal reflections.

Financial Record

A financial record is documentation of financial transactions and positions of an individual or organization, essential for financial management and accountability.