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Question 1/78
Which of the four basic measures, if properly installed and implemented may help prevent inventory fraud?
Correct Answer: D
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- Other Question (78q)
- Q1. Which of the four basic measures, if properly installed and implemented may help prevent i...
- Q2. ________, one of the Fraud synonyms implies that deceiving so thoroughly as to obscure the...
- Q3. A variation between the physical inventory and the perpetual inventory totals is called:...
- Q4. Once the expense account is closed, it becomes a historical item and probably will never b...
- Q5. A technique by which checks are numbered using a new technique that is revealed by a color...
- Q6. According to Marshall, ______ are probable future economic benefits obtained or controlled...
- Q7. Which of the following must be present for a fraud to exist?...
- Q8. One final means of concealing a register scheme, as with many kinds of fraud, is to destro...
- Q9. __________ is required if and when officers, executives or other persons in trusted positi...
- Q10. Which sale occurs when the accomplice of the employee-fraudster "buys" merchandise, but th...
- Q11. A process by which several bidders conspire to split contracts up and ensure that each get...
- Q12. Organizations that had external audits actually had higher median losses and longer lastin...
- Q13. A scheme is classified as a Conflict of interest:...
- Q14. Undisclosed payments made by vendors to employees of purchasing companies are referred to ...
- Q15. A running count that records how much inventory should be on hand is referred to:...
- Q16. The amount of cash on hand in a register may be compared to the amount showing in the regi...
- Q17. By what accountant means that the financial figures presented by the company are at least ...
- Q18. The act of an official or fiduciary person who unlawfully and wrongfully uses his station ...
- Q19. Which counts sometimes can give rise to inventory theft detection?...
- Q20. Fraudsters use the accounting system as a tool to generate the results they want in ______...
- Q21. Larceny by Fraud or deception means that:
- Q22. When employee committing the fraud removes cash from the register and also the item allege...
- Q23. In which approach, fraudsters produce whatever financial statements they wish, perhaps usi...
- Q24. _________ revenues involve the recording sales of goods or services hat did not occur....
- Q25. Forced reconciliation of the account says:
- Q26. A journal in which all sales made on credit or cash are listed is:...
- Q27. The prime targets for skimming schemes which are hard to monitor and predict such as late ...
- Q28. Maintain the presence of a manager or supervisor near the area of the cash register as a d...
- Q29. ______________ can be detected by closely examining the documentation submitted with the c...
- Q30. In Fraud scale pressure, opportunity and integrity variables all results in a list of ___ ...
- Q31. Which of the following is NOT standard of generally accepted accounting principles?...
- Q32. __________ can be defined as conduct detrimental to the organization and to the employee....
- Q33. The seller's price to the buyer is not fixed or determinable when:...
- Q34. Bank statement are diligently reviewed to ensure that amounts and signature have not been ...
- Q35. _________ assumes the business will go on indefinitely in the future....
- Q36. A ___________ occurs when an employee, manager or executive has an undisclosed economic or...
- Q37. The price of an asset on which the asset is selling at on the open market in a transaction...
- Q38. Statistical sampling enables the examiner to predict the occurrence rate for the populatio...
- Q39. ___________ is to allow the owner, investors, creditors and others with an interest to kno...
- Q40. One reason employees might be hesitant to use PO boxes in shell company schemes is that so...
- Q41. In physical tampering prevention technique, hidden images can be seen only when the check ...
- Q42. The heart of book keeping system is the ___________....
- Q43. Which check tampering red flag may indicate employees have embezzled cash and charged the ...
- Q44. Which of the following are used in a short term skimming scheme?...
- Q45. The excess credits (or debits) on the income statement are used to decrease (or increase) ...
- Q46. According to SAB 104, for the revenue to be typically considered realized or realizable an...
- Q47. Every bribe is a two-sided transaction, in which where a vendor bribes a purchaser, there ...
- Q48. Which of the following is true for Red flags associated with fictitious revenues?...
- Q49. Conflict of interest cases are more easily prevented than detected....
- Q50. When a victim company purchases unnecessary goods or services from a supplier at the direc...
- Q51. A shell company scheme in which actual goods or services are sold to the victim company is...
- Q52. Fill in Blank The _______________ cost method of pricing would carry an asset's value on t...
- Q53. Delivery has not occurred or services have not been rendered when:...
- Q54. __________ may be defined as the offering, giving, receiving or soliciting anything of val...
- Q55. Multiple cashiers operate from a single cash drawer without separate access codes is a red...
- Q56. Fill in Blank _________ is defined as a person who works for the victim organization and w...
- Q57. Which of the following is NOT the type of billing scheme?...
- Q58. The most common method of detection in corruption cases is:...
- Q59. Asset misappropriations have an effect on the liabilities and do also have an indirect eff...
- Q60. When employees avoid detection in a refund scheme to keep the sizes of the disbursement la...
- Q61. Fill in Blank A ____________ can be very costly for an organization to undertake, both in ...
- Q62. Which of the following is NOT the reason why senior management will overstate business sta...
- Q63. _____________ involves purposeful misreporting of financial information about the organiza...
- Q64. Which of the following is NOT the reason to bribe employees of the purchaser?...
- Q65. Physical tampering prevention is a check tampering technique that is used to secure bankas...
- Q66. A voucher is:
- Q67. ____________ is a summary of the account balances carried in a ledger....
- Q68. According to a survey, in principal perpetrator, males in a majority of cases, accounting ...
- Q69. _________ normally are carried on an organization's books as expenses because they tend to...
- Q70. According to Hollinger and Clark for Policy development, management must pay attention to:...
- Q71. Skimming is:
- Q72. When an incorrect total is carried from the journal to the ledger or from ledger to the fi...
- Q73. __________ inventory and other assets is relatively common way for fraudsters to remove as...
- Q74. Which of the following is the criterion for bid solicitation?...
- Q75. Skimming cases can more likely to be detected by:...
- Q76. Accounting records are designed to be kept on subjective rather than objective evidence....
- Q77. Theft of incoming checks usually occurs when ________ is (are) in charge of opening the ma...
- Q78. The forms that allow noncash assets to be moved from one location in a company to another ...
