Question: a. What is lapping? b. What internal control principles will prevent or detect this irregularity? c. What test of transactions may detect lapping?

a. What is lapping?

b. What internal control principles will prevent or detect this irregularity?

c. What test of transactions may detect lapping?

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a Lapping is a fraudulent practice in accounting where an employee steals cash received from one customer and covers it up by applying payments receiv... View full answer

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