Question

acc 450 Anderson embezzled $20,000 from her company's account in Bank X. At year-end, she hid the shortage by making a deposit on December 31 in Bank X, drawn on Bank Y. She has not recorded the transaction on the books. This is an example of:

Answer 1

It is an example of kiting.

The following information should be related to kiting:

• Kiting is an act that is to be done intentionally while writing a check for the amount i.e. more than the account balance in one bank as compared with the other account in other banks.
• It is to be done in the case when there is no sufficient balance in the bank having the second check that covers up the inexistence funds from the first account in the bank.

Therefore we can conclude that it is an example of kiting.

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