Question
Which of the following term describes the concealment
of shortage by delaying the recording of cash receipts?Solution
Lapping is a type of fraud which occurs when an employee alters accounts receivable records in order to hide the theft of cash . This is done by diverting a payment from one customer, and then hiding the theft by diverting cash from another customer to offset the receivable from the first customer.
 In a lock-making factory, 10 percent of the total produced locks were found to be defective, and 80 percent of the non-defective locks were exported. ...
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The number of trees in a park increases by 12% every year. If the number of trees after 2 years will be 3,136, find the current number of trees in the p...
A man spends 72% of his income. If his income increases by 28% and his expenditure increases by 25%, then what is the percentage increase or decrease in...
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Out of his total income, Rahul spent 25% on rent, 35% of the remaining income on groceries, and saved 60% of the income left after his expenses.
The price of a commodity has risen by 40%, leading to a 25% decrease in the quantity sold. What is the overall impact on total revenue?
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Income of A is twice the income of B. B and A spend 75% and 85% respectively of their incomes. Find the savings of A, if B saves Rs. 18000 in a month.
The earnings ratio of individuals 'P' and 'Q' stands at 5:3, respectively. 'P' manages to save 20% of their income, which is precisely 80% of what 'Q' s...
