Free Access ACFE.CFE-Financial-Transactions-and-Fraud-Schemes.v2022-09-05.q96 Practice Test (Page 19)

The scheme which reduces victim companies to issue fraudulent payments for goods or services that they have not received is called:

A.Billing scheme

B.Misappropriate claims

C.Reliance billing

D.Bogus claims

The principle behind full disclosure is:

A.Any material deviation from GAAP must be explained to the reader of the financial information.

B.Any material deviation from GAAP must be explained to writer of the financial information.

C.Any material deviation from SAS must be explained to the writer oh the financial information.

D.None of above

Which of the following factors is NOT included in most financial statement schemes?

A.Improper asset valuations

B.Fictitious revenues

C.Concealed liabilities and expenses

D.Persuasive Evidence

_________ 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.Expenses

B.Assets

C.Supplies

D.Equity

A scheme is classified as a Conflict of interest:

A.when a purchaser must have some kind of ownership or employment interest in the vendor submitting the purchase.

B.when an employee must have some kind of ownership or employment interest in the vendor submitting the invoice.

C.when a dealer must have some kind of dealership interest in the vendor submitting the stock.

D.when a salesman must have some kind of ownership or employment interest in the vendor submitting the sales.

Other Version: 812ACFE.CFE-Financial-Transactions-and-Fraud-Schemes.v2024-09-23.q88; 1208ACFE.CFE-Financial-Transactions-and-Fraud-Schemes.v2022-02-26.q52

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