Lapping refers to applying:
A) payments from one customer to another customer's account.
B) fictitious credit adjustments to a customer's account.
C) fictitious receipts to a customer's account.
D) none of the above

Question

Quizplus · Accepted Answer

Lapping is a fraudulent accounting practice where a company or individual applies payments from one customer to another customer's account to cover up theft or misappropriation of funds.

Lapping Refers to Applying