Get ACFE CFE Dumps Questions [2023] To Gain Brilliant Result
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NEW QUESTION 50
_________ normally are carried on an organization's books as expenses because they tend to be consumed by the organization within a year of purchase.
- A. Supplies
- B. Expenses
- C. Assets
- D. Equity
Answer: A
NEW QUESTION 51
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 52
Which of the following is NOT the type of billing scheme?
- A. Invoicing via shell companies
- B. Invoicing via accomplice companies
- C. Personal purchases with company funds
- D. Invoicing via non-accomplice companies
Answer: B
NEW QUESTION 53
__________ can be defined as conduct detrimental to the organization and to the employee.
- A. Employee theft
- B. Employee fraud
- C. Employee deviance
- D. All of the above
Answer: C
NEW QUESTION 54
Organizations that had external audits actually had higher median losses and longer lasting fraud schemes than those organizations that were not audited.
- A. True
- B. False
Answer: A
NEW QUESTION 55
The prime targets for skimming schemes which are hard to monitor and predict such as late fees and parking fees, are:
- A. Internal audits
- B. Register manipulations
- C. Revenue sources
- D. Recorded sales
Answer: C
NEW QUESTION 56
A shell company scheme in which actual goods or services are sold to the victim company is known as:
- A. Maintenance scheme
- B. Pass-through scheme
- C. Distribution scheme
- D. Allocation scheme
Answer: B
NEW QUESTION 57
Which are check tempering frauds in which an employee prepares a fraudulent check and submits it usually along with legitimate checks to an authorized maker who signs it without a proper review?
- A. Endorse check scheme
- B. Legitimate check scheme
- C. Concealed check scheme
- D. Payable check scheme
Answer: C
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 58
Which are check tempering frauds in which an employee prepares a fraudulent check and submits it usually along with legitimate checks to an authorized maker who signs it without a proper review?
- A. Endorse check scheme
- B. Legitimate check scheme
- C. Concealed check scheme
- D. Payable check scheme
Answer: C
NEW QUESTION 59
The essential elements of a ________ are an actual or constructive taking away of the goods or property of another with the without the consent and against the will of the owner and with a felonious intent.
- A. Larceny
- B. None of the above
- C. Abuse
- D. Fiduciary
Answer: A
NEW QUESTION 60
The principal way to detect omitted credits from books of account is through:
- A. Forced Balance
- B. Trend analysis
- C. Expense account
- D. None of all
Answer: B
NEW QUESTION 61
The excess credits (or debits) on the income statement are used to decrease (or increase) the equity account.
- A. False
- B. True
Answer: A
NEW QUESTION 62
Any expenses that are incurred but not paid by the end of the year are counted in our records of profit and loss, are called:
- A. Accruals
- B. Depreciations
- C. Expenses
- D. Financial record
Answer: A
NEW QUESTION 63
________ increase assets and expenses and/or decrease liabilities and/or equity
- A. Journal Entries
- B. None of all
- C. Credit
- D. Debit
Answer: D
NEW QUESTION 64
One reason employees might be hesitant to use PO boxes in shell company schemes is that some businesses are specially vary of sending checks to vendors that have street addresses only.
- A. False
- B. True
Answer: A
NEW QUESTION 65
Which of the following is NOT the reason why senior management will overstate business statement?
- A. Trigger performance related compensation
- B. Comply with debit covenants
- C. Meet personal performance criteria
- D. Show a pattern of growth to support sale of a business
Answer: B
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 66
__________ may be defined as the offering, giving, receiving or soliciting anything of value to influence an official act.
- A. Corruption
- B. Diverting business to vendors
- C. Bribery
- D. Lacking approval authority
Answer: C
NEW QUESTION 67
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