___________ and __________ are used to increase (or decrease) the equity account.

Answer(s): B

By removing a tangible asset from the business (a debit), the books will be ___________ by the exact amount of the tangible asset misappropriated.

Answer(s): B

Once the expense account is closed, it becomes a historical item and probably will never be reviewed again.

Answer(s): A

When an incorrect total is carried from the journal to the ledger or from ledger to the financial statements, this method is called:

Answer(s): A

Free CFE - Financial Transactions and Fraud Schemes Exam Braindumps (page: 12)