Free CFE - Law Exam Braindumps (page: 20)

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Occupational fraud and abuse is a (an) _________________of doing business, in much the same way that we pay expenses for electricity, taxes and wages.

  1. Equity
  2. Balance sheet
  3. Expense
  4. Financial record

Answer(s): C



When expenses used to produce income- all of them- should be matched in a consistent manner against that income, this is referred to:

  1. Equity
  2. Accrual basis accounting
  3. Expense
  4. Financial record

Answer(s): B



Depreciation is especially applicable when companies try to overvalue their assets and net worth; the lower their depreciation expense, the higher the companys profits.

  1. True
  2. False

Answer(s): A



Any expenses that are incurred but not paid by the end of the year are counted in our records of profit and loss, are called:

  1. Accruals
  2. Depreciations
  3. Expenses
  4. Financial record

Answer(s): A






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