Free CFE - Financial Transactions and Fraud Schemes Exam Braindumps (page: 23)

Page 22 of 47

Persuasive evidence of an arrangement does not exist when:

  1. Revenue and corresponding expenses doesn't match each other.
  2. No written or verbal agreement exists.
  3. Timings not meet properly
  4. Capitalized expenses and Liabilities will not be up to satisfied level

Answer(s): B



Physical assets including _________ and ________ are the most commonly misappropriated noncash asset in our study.

  1. Interest & Collusion
  2. Inventory & Equipment
  3. Inventory & Purchase
  4. Sales & Equipment

Answer(s): B



Which of the following is NOT the method for stealing inventory and other assets?

  1. Larceny schemes
  2. Asset requisition and transfer
  3. Purchasing and receiving schemes
  4. Sales & Equipment handling

Answer(s): D



Larceny is the scheme in which an employee simply takes inventory from the company premises without attempting to conceal it in the books and records.

  1. True
  2. False

Answer(s): A






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