Free CFEX Exam Braindumps (page: 9)

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The difference between assets and liabilities is called:

  1. Equity B.
    Expense C.
    Revenue
  2. Income statement

Answer(s): A



___________is to allow the owner, investors, creditors and others with an interest to know the appropriate book worth of the business at a particular date.

  1. Equity
  2. Balance sheet
  3. Income statement
  4. Financial record

Answer(s): B



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






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