Answered: The fraud scheme that is similar to the…

The fraud scheme that is similar to the ‘‘borrowing from Peter to pay Paul’’ scheme is a. expense account fraud. b. bribery. c. lapping. d. transaction fraud.

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter11: Auditing Inventory, Goods And Services, And Accounts Payable: The Acquisition And Payment Cycle

Section: Chapter Questions

Problem 7RQSC

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Question

The fraud scheme that is similar to the ‘‘borrowing from Peter to pay Paul’’ scheme is
a. expense account fraud.
b. bribery.
c. lapping.
d. transaction fraud.

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