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Which of the following situations increases the risk of fraud due to “lapping?” 1

Accounting Sep 18, 2020

Which of the following situations increases the risk of fraud due to “lapping?”

1. The sales manager can approve credit limits for customers.

2. The accounts receivable clerk also has responsibilities for writing a sales invoice.

3. The shipping clerk in the warehouse has read-only access to sales orders.

4. The accounts receivable clerk also has responsibilities for receiving cash.

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