Positive Aspects of Valid Dumps CFE Exam Dumps! [Feb-2023]
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NEW QUESTION 39
Skimming is:
- A. None of above
- B. The removal of cash from a victim entity prior to its entry in an accounting system.
- C. The addition of cash from a victim entity prior to its entry in an accounting system.
- D. The removal of cash from a victim entity after its entry in an accounting system.
Answer: B
NEW QUESTION 40
Skimming cases can more likely to be detected by:
- A. Internal audits
- B. Internal controls
- C. Accidents
- D. occupational frauds
Answer: C
NEW QUESTION 41
____________ is a process by which a bookkeeper records all transactions and can adjust the books.
- A. Journal Entries
- B. Financial statement
- C. Accounting Cycle
- D. None of all
Answer: A
NEW QUESTION 42
__________ 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 43
Placing any restriction in the solicitation documents that tend to restrict competition is called prebid solicitation.
- A. False
- B. True
Answer: B
NEW QUESTION 44
In Cressey's fraud triangle, its three of the legs are Opportunity, Pressure and
- A. Rationalization
- B. None of the above
- C. Isolation
- D. Violation
Answer: A
NEW QUESTION 45
How many accounts are affected in fraudulent accounting entries and therefore same number of categories on the financial statement?
- A. None of above
- B. More than two
- C. At least two
- D. One
Answer: D
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION 46
The scheme in which the same vendor is receiving favorable treatment van be found in purchases by vendor searches.
- A. False
- B. True
Answer: B
NEW QUESTION 47
Which of the following is the criterion for bid solicitation?
- A. To withdraw low bids
- B. Containing false statements
- C. Allowing the purchaser to discuss possible employment with the contractor
- D. To falsify the bid log
Answer: C
NEW QUESTION 48
When employees avoid detection in a refund scheme to keep the sizes of the disbursement low, is referred to:
- A. Small disbursements
- B. Very small disbursements
- C. Simple disbursements
- D. None of the above
Answer: A
Explanation:
Section: Investigation
NEW QUESTION 49
A voucher is:
- A. a report that includes the purchase order that was send to the vendor, the vendor invoice listing the quality and quantity of items purchased, and the external receiving reports that verify the items have been sold.
- B. a mammogram that includes the purchase order that was send to the purchaser, the purchaser invoice listing the benefits and quantity of items purchased, and the internal receiving reports that verify the purchased items have been sold.
- C. a figure that includes the sale order that was send to the dealer, the vendor invoice listing the cost and quantity of items sold, and the internal receiving reports that verify the purchased items have been delivered.
- D. a file that includes the purchase order that was send to the vendor, the vendor invoice listing the cost and quantity of items purchased, and the internal receiving reports that verify the purchased items have been delivered.
Answer: D
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 50
Theft of incoming checks usually occurs when ________ is (are) in charge of opening the mail and recording the receipt of payments.
- A. Single employee
- B. Two employees
- C. More than two employees
- D. None of the above
Answer: A
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION 51
Persuasive evidence of an arrangement does not exist when:
- A. Revenue and corresponding expenses doesn't match each other.
- B. Timings not meet properly
- C. Capitalized expenses and Liabilities will not be up to satisfied level
- D. No written or verbal agreement exists.
Answer: D
Explanation:
Section: Law
Explanation/Reference:
NEW QUESTION 52
Once the expense account is closed, it becomes a historical item and probably will never be reviewed again.
- A. False
- B. True
Answer: B
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION 53
Fraudsters use the accounting system as a tool to generate the results they want in ___________ approach:
- A. Organized accounting
- B. beating accounting
- C. Playing the accounting
- D. All of the above
Answer: C
NEW QUESTION 54
___________ and __________ are used to increase (or decrease) the equity account.
- A. Journal Entries & transactions
- B. Journal Entries & Credit
- C. None of all
- D. Journal Entries & Debit
Answer: A
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION 55
Which of the following is true for Red flags associated with fictitious revenues?
- A. A significant volume of sales to entries whose substance and ownership is not known.
- B. Usual growth in the number of days purchase in receivables
- C. Slow growth or usual profitability, when not compared to other companies in the same industry.
- D. A usual surge in purchase by a majority of units within a company, or of purchase recorded by corporate headquarters.
Answer: A
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION 56
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 57
The principal way to detect omitted credits from books of account is through:
- A. Expense account
- B. None of all
- C. Forced Balance
- D. Trend analysis
Answer: D
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 58
Employees steal an incoming payment and then place the incoming funds in an interest bearing account for:
- A. Concealing the fraud
- B. Converting stolen checks
- C. Short-term skimming
- D. All of the above
Answer: C
NEW QUESTION 59
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