/ Homework Answers / Accounting / True/False 11-T/F #1.              Skimming schemes can be subdivided based whether they

Question : True/False 11-T/F #1.              Skimming schemes can be subdivided based whether they


11-T/F #1.              Skimming schemes can be subdivided based on whether they target sales or receivables.

11-T/F #2.              When an employee skims money off-book sales of merchandise, the theft can be detected by comparing the register tape to the cash drawer.

11-T/F #3.              In order to conceal their thefts, some employees might ring a “no sale” or other noncash transaction on their cash registers to mask the theft of sales.

11-T/F #4.              Perhaps the biggest key to preventing skimming of any kind is to maintain a viable oversight presence at any point where cash enters an organization.

11-T/F #5.              Video cameras can be installed at cash entry points, but serve little use as a deterrent against theft.

11-T/F #6.              A common skimming scheme is to take unrecorded checks that the perpetrator has stolen and substitute them for receipted currency.

11-T/F #7.              Lapping is the crediting of one account through the abstraction of money from another account.

11-T/F #8.              Force balancing is one of the least dangerous receivables skimming schemes. In this technique the perpetrator is in charge of collecting payments.

11-T/F #9.              Another method used by employees to conceal the misapplication of customer payments is the theft of alteration of account statements.

11-T/F #10.          Trend analysis on aging of customer accounts can’t be used to highlight a skimming scheme.

11-T/F #11.         

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