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ACFE CFE-Law Exam
Certified Fraudiner (CFE) - Law (Page 8 )

Updated On: 30-Jan-2026
Page 6 of 34
PDF with 158 Questions

Which of the following are used in a short-term skimming scheme?

  1. Unrecorded sales, understated sales and theft of incoming checks
  2. Unrecorded sales, understated sales and dual endorsements
  3. False company accounts, understated sales and theft of incoming checks
  4. Understated sales, theft of incoming checks and check-for-currency substitutions

Answer(s): A



Delivery has not occurred or services have not been rendered when:

  1. Until installation and customer testing and acceptance has occurred.
  2. A written order exists but contains a right of return.
  3. Both A & B
  4. Neither A nor B

Answer(s): B



________________and are used to increase (or decrease) the equity account.

  1. Journal Entries & Debit
  2. Journal Entries & transactions
  3. Journal Entries & Credit
  4. None of all

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.

  1. Journal Entries
  2. Out-of-balance
  3. False debits
  4. None of all

Answer(s): B



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

  1. True
  2. False

Answer(s): A



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Viewing questions 36 - 40 out of 158 questions



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