Q. Which of the following statements is not true with regard to teeming and lading ?
-
(A)
It results in the deliberate misappropriation of cash receipts
-
(B)
It is associated with cash receipts
-
(C)
If same individual maintains cash receipts and cash payments teeming and lading is likely to exist
-
(D)
To conceal the shortage, the defraud, usually, tries to keep bank and book amounts in daily agreement so that a bank reconciliation will not detect the irregularity.
✅ Correct Answer: (C)
If same individual maintains cash receipts and cash payments teeming and lading is likely to exist