New 2021 Guaranteed Success with Actual4Cert CFE-Financial-Transactions-and-Fraud-Schemes Dumps ACFE PDF Questions
Exceptional Practice To Certified Fraud Examiner - Financial Transactions and Fraud Schemes Exam Pass the First Time
NEW QUESTION 77
________ increase assets and expenses and/or decrease liabilities and/or equity
- A. Debit
- B. None of all
- C. Credit
- D. Journal Entries
Answer: A
NEW QUESTION 78
___________ is to allow the owner, investors, creditors and others with an interest to know the appropriate book worth of the business at a particular date.
- A. Financial record
- B. Equity
- C. Balance sheet
- D. Income statement
Answer: C
NEW QUESTION 79
By removing a tangible asset from the business (a debit), the books will be ___________ by the exact amount of the tangible asset misappropriated.
- A. Out-of-balance
- B. False debits
- C. None of all
- D. Journal Entries
Answer: A
NEW QUESTION 80
Employees with the authority to grant discounts in order to skim revenues may use which authority?
- A. Recording a discount on sale procedure
- B. Internal discount sales audits
- C. False discounts
- D. None of the above
Answer: C
NEW QUESTION 81
When employee committing the fraud removes cash from the register and also the item allegedly being returned is debited back into the inventory, this refers to:
- A. Concealing register disbursement
- B. Registry destroying records
- C. Register false voids
- D. Fraudulent register occurrences
Answer: A
NEW QUESTION 82
A scheme is classified as a Conflict of interest:
- A. when an employee must have some kind of ownership or employment interest in the vendor submitting the invoice.
- B. when a purchaser must have some kind of ownership or employment interest in the vendor submitting the purchase.
- C. when a salesman must have some kind of ownership or employment interest in the vendor submitting the sales.
- D. when a dealer must have some kind of dealership interest in the vendor submitting the stock.
Answer: A
NEW QUESTION 83
__________ may be defined as the offering, giving, receiving or soliciting anything of value to influence an official act.
- A. Corruption
- B. Bribery
- C. Diverting business to vendors
- D. Lacking approval authority
Answer: B
NEW QUESTION 84
Which of the following method is NOT used to detect conflicts of interest?
- A. Tips & Complaints
- B. Review of vendor ownership files
- C. Interviews with purchasing personnel
- D. Underbillings of assets
Answer: D
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. False shipping slip
- C. Write-offs
- D. Perpetual
Answer: B
NEW QUESTION 86
Fraudsters use the accounting system as a tool to generate the results they want in ___________ approach:
- A. beating accounting
- B. All of the above
- C. Playing the accounting
- D. Organized accounting
Answer: C
NEW QUESTION 87
When situational pressures and perceived opportunities are low and personal integrity is high, occupational fraud is much more likely to occur than when the opposite is true.
- A. False
- B. True
Answer: A
NEW QUESTION 88
A ____________ can be very costly for an organization to undertake, both in terms of money and time spent.
Answer:
Explanation:
Civil lawsuit
NEW QUESTION 89
Which of the following search is used for unusually high incidence of returns and allowances scheme?
- A. Allowances by vendors
- B. Returns and allowances
- C. Disposals of allowances than reorders
- D. None of the above
Answer: B
NEW QUESTION 90
Assets that are long-lived and that differ from property, plant and equipment hat has been purchased outright or acquired under a capital lease are:
- A. Forced Assets
- B. Tangible Assets
- C. None of above
- D. Intangible Assets
Answer: D
NEW QUESTION 91
A running count that records how much inventory should be on hand is referred to:
- A. Altered inventory
- B. Shrinking inventory
- C. Perpetual inventory
- D. Fictitious inventory
Answer: C
NEW QUESTION 92
Every bribe is a two-sided transaction, in which where a vendor bribes a purchaser, there is someone on the vendor's side of the transaction who is not making an illicit payment.
- A. False
- B. True
Answer: A
NEW QUESTION 93
__________ is required if and when officers, executives or other persons in trusted positions become subjects of a criminal indictment.
- A. Resource diversion
- B. Conflict of interest
- C. Disclosure
- D. Turnaround sale or flip
Answer: C
NEW QUESTION 94
One final means of concealing a register scheme, as with many kinds of fraud, is to destroy all records of the transaction.
- A. True
- B. False
Answer: A
NEW QUESTION 95
When expenses used to produce income- all of them- should be matched in a consistent manner against that income, this is referred to:
- A. Expense
- B. Financial record
- C. Equity
- D. Accrual basis accounting
Answer: D
NEW QUESTION 96
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