A person who has access to both cash and accounts receivable records may be able to take cash receipts by
A) Kiting.
B) Lapping.
C) Overstating cash receipts.
D) Underfooting the bank reconciliation.

Question

Quizplus · Accepted Answer

Lapping is a method of covering up the theft of cash receipts by crediting one customer's account with another customer's payment. This can be done by someone with access to both cash and accounts receivable records.

A Person Who Has Access to Both Cash and Accounts