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Theft And Concealment

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Accounting

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Colorado State University

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Theft and concealment

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Theft and concealment

Theft and concealment is an unlawful act that involves stealing goods from any retail

establishment. Usually, the penalties associated with shoplifting depend on the value of goods and

the perpetrator's criminal record. Theft and concealment are commonly known as shoplifting.

However, larceny is different from theft and concealment. Shoplifting is where the perpetrator is

caught while within the store, while larceny is usually when the individual has already left the

store with the stolen merchandise. Theft crimes can damage one's record and prevent one from

getting employment in other places (Arnold Smith Law, 2021). Employees are not willing to

employ anyone who has a record of stealing. First-time offenders often get it easy with a more

lenient punishment such as community service. However, individuals who have been convicted

severally for theft are often given a harsher punishment, and the crime is recorded in their files

permanently.

When investigating the AJB Incorporation on the possibility of a fraud case, there are

several questions that I would ask Jaleesa to get her to confess. I would first ask her how business

has been fairing on and whether there have been any financial challenges. Secondly, I would

request to review the financial statement information with her present to confirm a few areas. The

questions will be in this order:

1. How has business been performing?

2. Are there any financial challenges?

3. When was the last audit?

4. What were the previous auditor's comments on the company's financial status as well as

the data recorded?

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1 Theft and concealment Students Name Instructors Name Course Title Date 2 Theft and concealment Theft and concealment is an unlawful act that involves stealing goods from any retail establishment. Usually, the penalties associated with shoplifting depend on the value of goods and the perpetrator's criminal record. Theft and concealment are commonly known as shoplifting. However, larceny is different from theft and concealment. Shoplifting is where the perpetrator is caught while within the store, while larceny is usually when the individual has already left the store with the stolen merchandise. Theft crimes can damage one's record and prevent one from getting employment in other places (Arnold Smith Law, 2021). Employees are not willing to employ anyone who has a record of stealing. First-time offenders often get it easy with a more lenient punishment such as community service. However, individuals who have been convicted severally for theft are often given a harsher punishment, and the crime is recorded in their files permanently. When investigating the AJB Incorporation on the possibility of a fraud case, there are several questions that I would ask Jaleesa to get her to confess. I would first ask her how business has been fairing on and whether there have been any financial challenges. Secondly, I would request to review the financial statement information with her present to confirm a few areas. The questions will be in this order: 1. How has business been performin ...
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Tags: Shoplifting retail establishment unlawful act Theft and concealment stealing goods