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CFE Exam Financial Transactions And Fraud Schemes With Verified Questions And Answers 2024
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CFE Exam Financial Transactions And Fraud Schemes With Verified Questions And Answers 2024
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CFE Exam Financial Transactions AndFraud Schemes With Verified Questions
And Answers 2024
Which hof hthe hfollowing his ha htypical hmethod hused hto hmake hcorrupt hpayments hin hbribery
hand hcorruption hschemes? h- hcorrect hanswer.Payment hof hcredit hcard hbills, hgifts, htravel,
hentertainment, hchecks, hand hother hfinancial hinterests.
Laura, hthe hsales hmanager hof hSam hCorp., his hafraid hsales hrevenue hfor hthe hperiod his hnot
hgoing hto hmeet hcompany hgoals. hTo hmake hup hfor hthe hshortfall, hshe hdecides hto hmail
hinvoices hto hfake hcustomers hand hcredit h(increase) hrevenue hon hthe hbooks hfor hthese
hsales. hWhat haccount hwill hshe hmost hlikely hdebit hto hbalance hthese hfictitious hrevenue
hentries hand hconceal hher hscheme? h- hcorrect hanswer.Accounts hreceivable.
James hruns han helectronics hstore. hOne hof hthe hmain hchallenges hin hhis hbusiness his
hkeeping hup hwith htechnological hadvances. hBecause hof hthis, hhis hauditors hwant hto hensure
hinventory his hnot hfraudulently hoverstated hon hthe hstore's hbalance hsheet. hWhich hof hthe
hfollowing hactions hshould hthe hauditors htake hto hensure hinventory his hnot hoverstated? h-
hcorrect hanswer.View hthe hinventory hand hconduct ha hphysical hcount, hmake hsure hobsolete
hinventory hhas hbeen hwritten hoff, hand hensure hthat hinventory his hrecorded hat hthe hlower hof
hcost hor hmarket hvalue.
Which hof hthe hfollowing hstatements his htrue hregarding hthe hstatement hof hcash hflows? h-
hcorrect hanswer.The hstatement hof hcash hflows hdoes hNOT hshows ha hcompany's hfinancial
hposition hat ha hspecific hpoint hin htime.
The hmeans hof hmeasuring hthe hrelationship hbetween htwo hdifferent hfinancial hstatement
hamounts: h- hcorrect hanswer.Ratio hanalysis
A hCFE hhas hreceived ha htip hthat han hemployee hin hthe hclaims hdepartment his hprocessing
hclaims hfor hhis hown hbenefit hduring hnon-working hhours. hTo hgather hinformation habout hthe
hvalidity hof hthis htip, hthe hCFE hshould hlook hat hwhich hof hthe hfollowing hreports? h- hcorrect
hanswer.Address hsimilarity hreport, hexception hreport, hand hmanual hoverride hreport.
In ha hfinancial hstatement hfraud hscheme hin hwhich hcapital hexpenditures hare hrecorded has
hexpenses hrather hthan hassets, hthe htransactions hwill hhave hthe hfollowing heffect hon hthe
horganization's hfinancial hstatements: h- hcorrect hanswer.Total hassets hwill hbe hunderstated.
, In horder hto hunderstate hnet hincome, htherefore hlowering hincome htax hliability, han
haccountant hcould hfraudulently hexpense hcosts hrather hthan hproperly hcapitalizing hthem hto
han hasset haccount. h- hcorrect hanswer.True.
A hcompany's hfinancial hstatements hmust hinclude hinformation hon hchanges hin haccounting
hmethods, hcontingent hliabilities, hsignificant hsubsequent hevents, hand hall hother hinformation
hnecessary hfor husers hto hmake hvalid, hinformed hdecisions. hThis his hthe hconcept hof: h-
hcorrect hanswer.Full hdisclosure.
How hdoes hvertical hanalysis hdiffer hfrom hhorizontal hanalysis? h- hcorrect hanswer.Vertical
hanalysis hexpresses hthe hpercentage hof hcomponent hitems hto ha hspecific hbase hitem, hwhile
hhorizontal hanalysis hanalyzes hthe hpercentage hchange hin hindividual hfinancial hstatement
hitems hfrom hone hyear hto hthe hnext.
The hstatement hof hcash hflows his hoften hused: h- hcorrect hanswer.in htandem hwith hthe hincome
hstatement hto hdetermine ha hcompany's htrue hfinancial hperformance.
Julia hruns ha hprinting hcompany hand hhas han hantique hprinting hpress hthat hshe huses hin hher
hbusiness. hShe hpurchased hthe hpress hten hyears hago hfor h$5,000. hSimilar hpresses hare
hselling hon hthe hmarket htoday hfor habout h$8,000. hJulia hmentioned hshe's hthinking habout
hretiring hand hher hfriend hoffered hto hgive hJulia h$9,000 hfor hthe hpress. hAccording hto hGAAP,
hhow hmuch hshould hthe hprinting hpress hbe hlisted hfor hon hJulia's hbooks? h- hcorrect
hanswer.$5,000.00
ABC hCompany hpurchases ha hmaterial hamount hof hproducts hfrom hanother hentity hwhose
hoperating hpolicies hcan hbe hcontrolled hby hABC hCompany's hmanagement, hbut hit hdoes hnot
hdisclose hthis hsituation hon hits hfinancial hstatements. hWhich htype hof himproper hdisclosure
hscheme hhas hABC hCompany hengaged hin? h- hcorrect hanswer.Related hparty htransaction.
The hwrongful huse hof hinfluence hto hprocure ha hbenefit hfor hthe hactor hor hanother hperson,
hcontrary hto hthe hduty hor hthe hrights hof hothers. h- hcorrect hanswer.Corruption hdefined
At hthe hend hof heach hfiscal hyear, hthe haccounts hreflected hon hthe hincome hstatement: h-
hcorrect hanswer.are hreduced hto ha hzero hbalance.
Another hterm hfor hunbundling his: h- hcorrect hanswer.Coding hfragmentation.
Unbundling hcan hbe hdetected hthrough: h- hcorrect hanswer.A hcomputer hprogram hthat
hdetermines hwhether heach hcode hsubmitted his ha hcomponent hof hone hor hmore
hcomprehensive hcodes.
The hexchange hof helectronic hdata hbetween hcomputers hwhere hthere his hno hhuman
hreaction: h- hcorrect hanswer.Electronic hData hInterchange
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