Free Access ACFE.CFE.v2024-05-20.q124 Practice Test (Page 11)

Question 46

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 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.

C.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.

D.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.

Question 47

A variation between the physical inventory and the perpetual inventory totals is called:

A.Write-offs

B.Shrinkage

C.Altered inventory

D.Account receivable

Question 48

Statistical sampling enables the examiner to predict the occurrence rate for the population and therefore determine with some accuracy the error rate, or the potential for fraud.

A.False

B.True

Question 49

In physical tampering prevention technique, hidden images can be seen only when the check is held at an angle through:

A.Holographic safety inks

B.High-resolution sprays

C.Chrome coloring

D.Watermark backers

Question 50

The difference between assets and liabilities is called:

A.Equity

B.Expense

C.Revenue

D.Income statement

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Question 46

Question 47

Question 48

Question 49

Question 50

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