Free Access ACFE.CFE-Financial-Transactions-and-Fraud-Schemes.v2024-09-23.q88 Practice Test (Page 16)

Which of the following is NOT standard of generally accepted accounting principles?

A.Full disclosure

B.Quality control

C.Cost

D.Conservatism

The most common method of detection in corruption cases is:

A.Internal audits

B.Tips

C.By accident

D.Internal controls

Which of the following is NOT the reason why senior management will overstate business statement?

A.Comply with debit covenants

B.Trigger performance related compensation

C.Meet personal performance criteria

D.Show a pattern of growth to support sale of a business

All of the following measures would help prevent the theft of company inventory EXCEPT:

A.Restricting inventory access to authorized personnel only

B.Having different people responsible for receiving inventory and shipping it

C.Having the purchasing supervisor perform the physical inventory count

D.Using prenumbered inventory receiving reports

A shell company scheme in which actual goods or services are sold to the victim company is known as:

A.Pass-through scheme

B.Maintenance scheme

C.Allocation scheme

D.Distribution scheme

Other Version: 2358ACFE.CFE-Financial-Transactions-and-Fraud-Schemes.v2022-09-05.q96; 1546ACFE.CFE-Financial-Transactions-and-Fraud-Schemes.v2022-02-26.q52

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