Cisco
CompTIA
ISC
EC-Council
EXIN
Fortinet
ITIL
Juniper
Microsoft
VMware
Avaya
SAP
Google
NVIDIA
Salesforce
Amazon
Palo Alto Networks
ISC2
Splunk
ServiceNow
All Vendors
  2. Home
  3. Exams
  4. ACFE
  5. CFE-Law

ACFE CFE-Law Exam
Certified Fraudiner (CFE) - Law (Page 5 )

Updated On: 30-Jan-2026
Page 5 of 34
PDF with 158 Questions

According to SAB 104, for the revenue to be typically considered realized or realizable and earned, which of the following criteria is NOT met:

  1. Persuasive evidence of an arrangement exists
  2. Services has been rendered
  3. Timings have been met
  4. Collectability is reasonably assured

Answer(s): C



Which of the following is true for Red flags associated with fictitious revenues?

  1. Slow growth or usual profitability, when not compared to other companies in the same industry.
  2. Usual growth in the number of days purchase in receivables
  3. A significant volume of sales to entries whose substance and ownership is not known.
  4. A usual surge in purchase by a majority of units within a company, or of purchase recorded by corporate headquarters.

Answer(s): C



Accounting records are designed to be kept on subjective rather than objective evidence.

  1. True
  2. False

Answer(s): B



According to accounting principles, __________and ____________should be recorded or attached in the same accounting period; failing to do so violates the matching principle of AAP.

  1. Revenue and corresponding expenses
  2. Revenue and Income statement
  3. Income statement and Long-term contracts
  4. Capitalized expenses and Liabilities

Answer(s): A



Financial statement fraud is committed by:

  1. Organized criminals
  2. Mid and lower level employees
  3. Senior Management
  4. All of the above

Answer(s): D



Viewing page 5 of 34
Viewing questions 21 - 25 out of 158 questions



Post your Comments and Discuss ACFE CFE-Law exam prep with other Community members:

Join the CFE-Law Discussion