Every Month,David,an Assistant at a Shoe Store,steals Money from His

question 63

Multiple Choice

Every month,David,an assistant at a shoe store,steals money from his employer,after it has been received and recorded in the books,by altering the accounting records in the company book.David's act falls under which of the following categories of theft?

• A) Shoplifting
• B) Embezzlement
• C) Skimming
• D) Phony disbursement

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Definitions:

Brokerage Fees

Charges paid to a broker for executing transactions or providing specialized services.

New York Stock Exchange

A leading global securities exchange where stocks and other securities are bought and sold.

Readily Marketable

Describes assets that can easily and quickly be converted into cash without significantly affecting their price.

Interest Receivable

The amount of interest income that has been earned but not yet received in cash.