CFE-Financial-Transactions-and-Fraud-Schemes Dumps To Pass ACFE Exam in 24 Hours - Prep4sures [Q76-Q94]

CFE-Financial-Transactions-and-Fraud-Schemes Dumps To Pass ACFE Exam in 24 Hours - Prep4sures

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ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam Syllabus Topics:

Topic	Details
Topic 1	Ensures the familiarity with the many legal ramifications of conducting fraud examinations
Topic 2	Demonstrate knowledge of tracing illicit transactions, evaluating deception and report writing
Topic 3	Demonstrate knowledge of the fraud schemes, internal controls to deter fraud and other auditing and accounting matters
Topic 4	Financial Transactions & Fraud Schemes Demonstrate knowledge of the basic accounting and auditing theory
Topic 5	Demonstrate knowledge of crime causation, white-collar crime, occupational fraud, fraud prevention
Topic 6	Demonstrate knowledge of fraud risk assessment, and the ACFE Code of Professional Ethics.
Topic 7	Demonstrate knowledge of criminal and civil law, rules of evidence, rights of the accused and accuser, and expert witness matters
Topic 8	Tests your comprehension of the types of fraudulent financial transactions incurred in accounting records
Topic 9	Demonstrate knowledge of Fraud Prevention and Deterrence
Topic 10	Tests your understanding of why people commit fraud and ways to prevent it
Topic 11	Demonstrate knowledge of interviewing, taking statements, obtaining information from public records|

 

NEW QUESTION 76
A running count that records how much inventory should be on hand is referred to:

• A. Shrinking inventory
• B. Fictitious inventory
• C. Altered inventory
• D. Perpetual inventory

Answer: D

 

NEW QUESTION 77
________, one of the Fraud synonyms implies that deceiving so thoroughly as to obscure the truth:

• A. Beguile
• B. Mislead
• C. Delude
• D. Deceive

Answer: C

 

NEW QUESTION 78
Persuasive evidence of an arrangement does not exist when:

• A. Capitalized expenses and Liabilities will not be up to satisfied level
• B. Timings not meet properly
• C. No written or verbal agreement exists.
• D. Revenue and corresponding expenses doesn't match each other.

Answer: C

 

NEW QUESTION 79
Inventory shrinkage is the unaccounted-for reduction in the company's inventory that does not results from theft.

• A. False
• B. True

Answer: A

 

NEW QUESTION 80
_________ assumes the business will go on indefinitely in the future.

• A. Fair value
• B. Materiality
• C. Cost
• D. Going concern

Answer: D

 

NEW QUESTION 81
Verify supporting documentation on outstanding checks written for a material amount is a test used to conduct for:

• A. Bank confirmation
• B. Check disbursement
• C. Cut-off statements
• D. Bank confirmation

Answer: D

 

NEW QUESTION 82
The principal way to detect omitted credits from books of account is through:

• A. Expense account
• B. Forced Balance
• C. None of all
• D. Trend analysis

Answer: D

 

NEW QUESTION 83
In Cressey's fraud triangle, its three of the legs are Opportunity, Pressure and

• A. Violation
• B. None of the above
• C. Rationalization
• D. Isolation

Answer: C

 

NEW QUESTION 84
The most common method of detection in corruption cases is:

• A. Internal audits
• B. By accident
• C. Tips
• D. Internal controls

Answer: C

 

NEW QUESTION 85
__________ inventory and other assets is relatively common way for fraudsters to remove assets from the books before or after they are stolen.

• A. Altered
• B. Write-offs
• C. False shipping slip
• D. Perpetual

Answer: C

 

NEW QUESTION 86
______________ is required not only for theft, but for procedures to detect errors, avoid waste and insure a proper amount of inventory is maintained.

Answer:

Explanation:
Inventory control

 

NEW QUESTION 87
Which counts sometimes can give rise to inventory theft detection?

• A. None of the above
• B. Perpetual inventory counts
• C. Physical inventory counts
• D. Concealment inventory counts

Answer: C

 

NEW QUESTION 88
Depreciation is especially applicable when companies try to overvalue their assets and net worth; the lower their depreciation expense, the higher the company's profits.

• A. True
• B. False

Answer: A

 

NEW QUESTION 89
____________ corrupt employees can cause inventory to be fraudulently delivered to themselves or accomplices.

• A. Fraudulent inventory slip
• B. False packing slip
• C. False credit slip
• D. False shipping slip

Answer: B

 

NEW QUESTION 90
Physical assets including _________ and ________ are the most commonly misappropriated noncash asset in our study.

• A. Inventory & Purchase
• B. Sales & Equipment
• C. Interest & Collusion
• D. Inventory & Equipment

Answer: D

 

NEW QUESTION 91
One of the simplest ways to justify unacceptable conduct and avoid guilt feelings is to invent a good reason for ________.

Answer:

Explanation:
Embezzling

 

NEW QUESTION 92
The seller's price to the buyer is not fixed or determinable when:

• A. The transaction includes an option to exchange the product for others.
• B. Payment terms are not extended for a substantial period.
• C. When the price is not contingent on some future events
• D. A service or membership fee is not subject predictable cancellation during the contract period.

Answer: A

 

NEW QUESTION 93
Which of the following must be present for a fraud to exist?

• A. All of the above
• B. Knowledge that the statement was false when it was uttered
• C. A material false statement
• D. Reliance on the fast statement by the victim

Answer: A

 

NEW QUESTION 94
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