GENERAL KNOWLEDGE

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GK

MARKETING MANAGEMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Mark True or False next to each scenario below to indicate if it is employee theft or not.An employee takes $20 from the cash register and returns it next week
A
True
B
False
C
Either A or B
D
None of the above
Explanation: 

Detailed explanation-1: -Employee theft is stealing by employees from their employers. Pilferage is stealing in small quantities. Embezzlement occurs when a person takes money or property that has been entrusted to his or her care; a breach of trust occurs. Peculation and defalcation are synonyms for embezzlement.

Detailed explanation-2: -Shrinkage is the loss of inventory that can be attributed to factors such as employee theft, shoplifting, administrative error, vendor fraud, damage, and cashier error.

Detailed explanation-3: -What are examples of external theft? Shoplifting, break-ins, and organized retail crime (ORC) are common types of external theft.

Detailed explanation-4: -What is shrinkage? Shrinkage is an accounting term used to describe when a store has fewer items in stock than in its recorded book inventory. Factors contributing to shrinkage include employee theft, shoplifting, administrative errors, vendor fraud, product damage, and more.

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