Which pairing correctly describes theft before vs after funds appear on the books?

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Multiple Choice

Which pairing correctly describes theft before vs after funds appear on the books?

Explanation:
The timing of the theft relative to when funds are recorded is what matters. Skimming is theft of cash receipts before they are entered into the accounting records, meaning the money is taken prior to posting—that’s why it describes theft before funds appear on the books. Cash larceny, by contrast, is theft after funds have already been recorded as revenue, so the fraud occurs after the money has been logged in the books. Therefore, the correct pairing is skimming for theft before funds appear on the books and cash larceny for theft after funds appear.

The timing of the theft relative to when funds are recorded is what matters. Skimming is theft of cash receipts before they are entered into the accounting records, meaning the money is taken prior to posting—that’s why it describes theft before funds appear on the books. Cash larceny, by contrast, is theft after funds have already been recorded as revenue, so the fraud occurs after the money has been logged in the books. Therefore, the correct pairing is skimming for theft before funds appear on the books and cash larceny for theft after funds appear.

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