ACFE CFE-Financial-Transactions-and-Fraud-Schemes Reliable Cram Materials | Test CFE-Financial-Transactions-and-Fraud-Schemes Online
ACFE CFE-Financial-Transactions-and-Fraud-Schemes Reliable Cram Materials | Test CFE-Financial-Transactions-and-Fraud-Schemes Online
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ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam is a challenging and rigorous certification exam that requires a strong understanding of financial fraud and the ability to apply that knowledge in real-world situations. Passing CFE-Financial-Transactions-and-Fraud-Schemes Exam demonstrates to employers and clients that the candidate has the knowledge, skills, and expertise needed to prevent and detect fraud in financial transactions.
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ACFE Certified Fraud Examiner - Financial Transactions and Fraud Schemes Exam Sample Questions (Q161-Q166):
NEW QUESTION # 161
________, one of the Fraud synonyms implies that deceiving so thoroughly as to obscure the truth:
- A. Mislead
- B. Deceive
- C. Delude
- D. Beguile
Answer: C
NEW QUESTION # 162
Which of the following is TRUE regarding financial reporting practices and accounting frameworks, such as
U.S. generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS)?
- A. All organizations must use IFRS as their accounting framework if they conduct business internationally.
- B. Both U.S. GAAP and IFRS are considered to be principle-based accounting frameworks.
- C. Management determines which accounting framework an organization will adhere to for financial reporting.
- D. Publicly traded companies must adhere to the specific financial reporting practices in their jurisdiction.
Answer: D
Explanation:
Explanation/Reference: https://www.investopedia.com/terms/g/gaap.asp
NEW QUESTION # 163
By what accountant means that the financial figures presented by the company are at least as much as reflected in the statements, if not more.
- A. Misappropriations
- B. Fraudulent statement
- C. Matching
- D. Conservatism
Answer: D
NEW QUESTION # 164
Which of the following is TRUE regarding ghost employee schemes?
- A. The ghost employee must be someone who has never worked for the victim company.
- B. The ghost employee must be a fictitious person.
- C. The ghost employee must be added to the payroll.
- D. The ghost employee must be classified as an exempt employee.
Answer: C
NEW QUESTION # 165
Brenda was a cashier at a retail store. When Brenda's friend shopped at the store, she would take her merchandise to Brenda's cash register. Instead of charging her friend, Brenda would record a No-Sale transaction on the register, and her friend would pretend to pay for the merchandise. Brenda's friend would leave the store without paying for the merchandise, and the two would later divide the merchandise between themselves. This scheme can BEST be described as:
- A. A register disbursement scheme
- B. A purchasing and receiving scheme
- C. A false sale scheme
- D. A skimming scheme
Answer: A
NEW QUESTION # 166
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