lapping

lapping. An embezzlement technique by which an employee takes funds from one customer’s accounts receivable and covers it by using a second customer’s payment to pay the first account, then a third customer’s payment to pay the second account, and so on. [Cases: Embezzlement 12. C.J.S. Embezzlement § 26.]

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词条贡献者

资深译员Pablo，毕业于一所培养高级翻译以及跨文化事务专家的精英大学，专注翻译各种与上市公司代理有关的法律文件。