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Certified Fraud Examiner (CFEX) Questions 32–36 (page: 8)

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

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

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

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:

The heart of book keeping system is the ________ .