Online Access Free CFE-Financial-Transactions-and-Fraud-Schemes Practice Test

"Anticipate possible losses and omit potential profits", this results in:

• A.Symmetrical accounting
• B.Playing accounting
• C.Bearing accounting
• D.Asymmetrical accounting

According to SAB 104, for revenue to be considered realized or realizable and earned, which of the following criteria is NOT met?

• A.Collectability is reasonably assured
• B.Services have been rendered
• C.Timings have been met
• D.Persuasive evidence of an arrangement exists

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

The essential elements of a ________ are an actual or constructive taking away of the goods or property of another without the consent and against the will of the owner and with a felonious intent.

• A.None of the above
• B.Fiduciary
• C.Larceny
• D.Abuse

________, one of the synonyms for fraud, implies deceiving so thoroughly as to obscure the truth.

• A.Deceive
• B.Beguile
• C.Mislead
• D.Delude