New 2021 CFE exam questions Welcome to download the newest Pass4Leader CFE PDF dumps (190 Q&As)
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NEW QUESTION 108
Revenue is recognized when it is:
- A. All of the above
- B. Fictitious and Earned
- C. Realized and Evidenced
- D. Realized and Earned
Answer: D
NEW QUESTION 109
The amount of cash on hand in a register may be compared to the amount showing in the register tape in order to detect _______.
- A. Employee theft
- B. Internal audits
- C. Recorded sales
- D. Occupational frauds
Answer: A
NEW QUESTION 110
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 111
Which of the following factors is NOT included in most financial statement schemes?
- A. Concealed liabilities and expenses
- B. Fictitious revenues
- C. Improper asset valuations
- D. Persuasive Evidence
Answer: D
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION 112
Which of the following are the classifications for the Corruption?
- A. Bribery, economic extortion, illegal gratuities and conflicts of interest
- B. Overbilling, bribery, bid-ridding and illegal gratuities
- C. economic extortion, bribery, illegal gratuities and corruption
- D. Corruption, bribery, economic extortion, conflicts of interest
Answer: A
NEW QUESTION 113
The difference between assets and liabilities is called:
- A. Expense
- B. Revenue
- C. Equity
- D. Income statement
Answer: C
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION 114
Undisclosed payments made by vendors to employees of purchasing companies are referred to as:
- A. Presolicitaion
- B. Bid-rigging
- C. None of the above
- D. Kickbacks
Answer: D
NEW QUESTION 115
_________ revenues involve the recording sales of goods or services hat did not occur.
- A. Fictitious or fabricated revenues
- B. Red flag revenues
- C. Financial revenues
- D. Concealed revenues
Answer: A
NEW QUESTION 116
SIMULATION
___________ allows the fraud examiner to inspect key attributes on a smaller portion (or sample) of those documents.
Answer:
Explanation:
Statistical sampling
NEW QUESTION 117
__________ can be defined as conduct detrimental to the organization and to the employee.
- A. Employee fraud
- B. All of the above
- C. Employee theft
- D. Employee deviance
Answer: D
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 118
Once the expense account is closed, it becomes a historical item and probably will never be reviewed again.
- A. True
- B. False
Answer: A
NEW QUESTION 119
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
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION 120
Which of the following is NOT the phase of the bidding process?
- A. Presolicitation
- B. Postsolicitation
- C. Solicitation
- D. Submission
Answer: B
NEW QUESTION 121
In Fraud scale pressure, opportunity and integrity variables all results in a list of ___ possible red flags or indicators of occupational fraud and abuse.
- A. 0
- B. 1
- C. 2
- D. 3
Answer: B
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 122
People commit financial statement fraud to:
- A. Conceal false business performances
- B. Maintain personal income
- C. Stand outside the accounting system
- D. Preserve personal status/control
Answer: D
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 123
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CFE exam questions from Pass4Leader dumps: https://www.pass4leader.com/ACFE/CFE-exam.html (190 Q&As)
Free 2021 ACFE Certification CFE dumps are available on Google Drive shared by Pass4Leader: https://drive.google.com/open?id=1ajU2TLDd0wNlBdlWqGMeODoeHpCNCxsf