ACFE CFE-Law Exam
Certified Fraudiner (CFE) - Law (Page 3 )

Updated On: 30-Jan-2026

"Anticipate possible losses and omit potential profits", this results in:

  1. Asymmetrical accounting
  2. Symmetrical accounting
  3. Playing accounting
  4. Bearing accounting

Answer(s): A



________________assumes the business will go on indefinitely in the future.

  1. Materiality
  2. Going concern
  3. Cost
  4. Fair value

Answer(s): B



The price of an asset on which the asset is selling at on the open market in a transaction between a willing buyer and a wiling seller is called:

  1. Absolute value
  2. Fair value
  3. Cost value
  4. material value

Answer(s): B



Fraudsters use the accounting system as a tool to generate the results they want in ________________ approach:

  1. Organized accounting
  2. Playing the accounting
  3. beating accounting
  4. All of the above

Answer(s): B



The______________ cost method of pricing would carry an assets value on the financial statements as what it would currently cost, considering inflation.

  1. Price-level adjusted historical cost
  2. price

Answer(s): A



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