LAPPING Definition

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LAPPING is a scheme to cover an embezzlement by using payments made by one customer to reduce the receivables balance of another customer.

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LIVING DEAD are venture capital investments that neither fail nor are easily liquidated. These are termed the "living dead" and are judged as failures by venture capitalists.

SCRAP is material that is discarded as worthless or sold to be reused as parts; junk; a small unusable amount of something that is left over after the rest has been used or consumed.

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