Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. suppose you are the ceo of a company and one of yo

Suppose you are the CEO of a company and one of your manager confessed to kiting...

50.1K

Verified Solution

Question

Accounting

Suppose you are the CEO of a company and one of your managerconfessed to kiting $1,000. What is kiting? How do your company doto prevent it? How would you respond to the confession?

Answer & Explanation Solved by verified expert
4.4 Ratings (666 Votes)
In a kiting scheme cash is created using the lag between the time a check is deposited and the time it clears the bank For example a fraud perpetrator opens accounts in banks X Y and Z The perpetrator creates cash by depositing a 500 check from bank Y in bank Z and    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Measures of liquidity, Solvency and ProfitabilityThe comparative financial statements of Marshall Inc. are asfollows....Measures...

Accounting
Q

Which organism s domain phylum class order etc are responsible for the evolution of terrestrial...

Biology
Q

Use long division to find the quotient and remainder.(x - 7x + 13x - 6)...

Basic Math
Q

50 part time students were asked how many courses they were taking this term The...

Statistics
Q

Kelly and Jerome owned a very successful office upply business Over the years they made...

Algebra
Q

Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days...

Accounting
Q

please help me solve ...

Accounting
Q

OrderDate Region Rep Item Units Unit Cost Total Sales 1/6/21 East Jones Pencil 95 1.99...

Accounting
Q

CP8-2 Finding Financial Information LO8-1, 8-2, 8-6 Refer to the financial statements of Urban Outfitters...

Accounting
Q

Standard Company has a contingent liability that has a likelihood of actual occurrence that is...

Accounting
Q

Solve. Ralph Corporation reported the following revenue data: (Click the icon to view...

Accounting
Q

In calculating insurance premiums, the actuarially fair insurance premium is the premium that results in...

Finance