ACFE ACFE-CFE Online Practice Questions and Exam Preparation

ACFE ACFE-CFE Online Questions & Answers

• Question 181:

  _________ assumes the business will go on indefinitely in the future.

  A. Materiality
  B. Going concern
  C. Cost
  D. Fair value
  B. Going concern

• Question 182:

  In ____________ scheme, a supplier pays an employee of the purchasing company to write specifications that will require amendments at a later date.

  A. Deliberate writing of vague specifications
  B. Need recognition
  C. False specification
  D. Bid-splitting
  A. Deliberate writing of vague specifications

• Question 183:

  Employees with the authority to grant discounts in order to skim revenues may use which authority?

  A. False discounts
  B. Recording a discount on sale procedure
  C. Internal discount sales audits
  D. None of the above
  A. False discounts

• Question 184:

  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 then two employees
  D. None of the above
  A. Single employee

• Question 185:

  A special scheme in which employees know their employer is seeking to purchase a certain asset and take advantage of the situation by purchasing the asset themselves is:

  A. Conflict of interest in sale
  B. Turnaround sale or flip
  C. Unauthorized sale
  D. Written sale of unique assets
  B. Turnaround sale or flip

• Question 186:

  Which of the following is NOT the type of billing scheme?

  A. Invoicing via shell companies
  B. Invoicing via non-accomplice companies
  C. Invoicing via accomplice companies
  D. Personal purchases with company funds
  C. Invoicing via accomplice companies