Free CFE-Financial-Transactions-and-Fraud-Schemes Exam Dumps

Question 11

According to accounting principles, ______ and ______ should be recorded or atched in the same accounting period; failing to do so violates the matching principle of AAP.

A. Revenue and corresponding expenses
B. Revenue and Income statement
C. Income statement and Long-term contracts
D. Capitalized expenses and Liabilities

Correct Answer:A

Question 12

In _______ scheme, a supplier pays an employee of the purchasing company to write specifications that will require amendments at a later date.

A. Deliberate writing of vague specifications
B. Need recognition
C. False specification
D. Bid-splitting

Correct Answer:A

Question 13

A voucher is:

A. a file that includes the purchase order that was send to the vendor, the vendor invoice listing the cost and quantity of items purchased, and the internal receiving reports that verify the purchased items have been delivered.
B. a figure that includes the sale order that was send to the dealer, the vendor invoice listing the cost and quantity of items sold, and the internal receiving reports that verify the purchased items have been delivered.
C. a report that includes the purchase order that was send to the vendor, the vendor invoice listing the quality and quantity of items purchased, and the external receiving reports that verify the items have been sold.
D. a mammogram that includes the purchase order that was send to the purchaser, the purchaser invoice listing the benefits and quantity of items purchased, and the internal receiving reports that verify the purchased items have been sold.

Correct Answer:A

Question 14

______ is required not only for theft, but for procedures to detect errors, avoid waste and insure a proper amount of inventory is maintained.
Solution:
Inventory control

Does this meet the goal?

A. Yes
B. No

Correct Answer:A

Question 15

Physical tampering prevention is a check tampering technique that is used to secure bank assisted controls.

A. True
B. False

Correct Answer:B