Which of the Following Best Represents an Example of Fraud

question 22

Multiple Choice

Which of the following best represents an example of fraud utilizing the lapping technique?

• A)An employee transfers cash on the last day of the year in order to double record it in the bank accounts.
• B)An employee creates a fictional vendor and requests payment to a personal P.O.box.
• C)An employee opens the mail to cover up payroll fraud received on a fictional person.
• D)An employee covers up the stealing of receipts by posting to the wrong customer accounts.

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Definitions:

Historical Demand

The record of past consumer purchasing behavior that is used to predict future demand patterns.

Qualitative Forecasting Methods

Forecasting techniques based on expert judgments and not on numerical data, often used for market trends.

Time Series Forecasting Methods

Statistical techniques used to predict future values based on previously observed values over time, often applied in finance, weather forecasting, and inventory management.

Simplicity

The quality of being easily understood or executed without complexity.