When a Purchasing Agent Benefits Personally by Accepting Payment from a Vendor,the

question 93

Multiple Choice

When a purchasing agent benefits personally by accepting payment from a vendor,the purchasing agent is guilty of which of the following?

• A)Performing kiting.
• B)Committing embezzlement.
• C)Receiving kickbacks.
• D)Stealing company assets.

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Definitions:

Cost Flows

The process of tracking the movement of costs in the production process, from initial acquisition of materials to the final sale of finished goods.

Activity-Based Costing

A costing method that identifies activities in an organization and assigns the cost of each activity to all products and services according to the actual consumption.

Control Levels

The different stages or layers of management and supervision within an organization, designed to ensure policies and procedures are implemented effectively.

Activity-Based Costing

An accounting method that assigns costs to products or services based on the activities they require, leading to more accurate product costing.