Ron Burgundy worked for the Anchor Department Store as a sales associate in the
ID: 2329653 • Letter: R
Question
Ron Burgundy worked for the Anchor Department Store as a sales associate in the leisure suits department. As he would give change back to a customer for cash sales, he would also pull out a $20 bill and slip it in his pocket. He concealed his scheme by issuing one false refund at the end of his shift for the total amount he stole that day. This is an example of what type of scheme?
Question 2 options:
Sales skimming
Larceny at the point of sale
Lapping
Larceny at the deposit
Sales skimming
Larceny at the point of sale
Lapping
Larceny at the deposit
Explanation / Answer
Skimming is theft of money before its recorded in accounts ie not showing cash sale and putting cash in own pocket is known as skimming.
Lapping is a form of theft where money received by accounts receivable is used and it is concealed by subsequent receipt of money from other receivables
Larceny is type of theft where money is stolen after its recorded in books by way of passing money from business to customer via refunds for returned products.
The following theft is LARCENY AT THE POINT OF SALES .
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