Free ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam Questions

Become ACFE Certified with updated CFE-Financial-Transactions-and-Fraud-Schemes exam questions and correct answers

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Total 190 Questions | Updated On: Mar 07, 2026

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Question 1

A voucher is:

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 : 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 : 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 : 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.

Answer: A

Question 2

____________ is a summary of the account balances carried in a ledger.

A : lance sheet

B : come statement

C : nancial statement

D : neral journal

Answer: C

Question 3

Asset misappropriations have an effect on the liabilities and do also have an indirect effect on the equity account.

A : ue

B : lse

Answer: B

Question 4

Which of the following is NOT the reason to bribe employees of the purchaser?

A : ensure receipt of a late bid

B : extend the bid opening date

C : ensure bid-splitting

D : falsify the bid log

Answer: C

Question 5

The seller's price to the buyer is not fixed or determinable when:

A : en the price is not contingent on some future events

B : transaction includes an option to exchange the product for others

C : ervice or membership fee is not subject predictable cancellation during the contract period.

D : yment terms are not extended for a substantial period.

Answer: B

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Total 190 Questions | Updated On: Mar 07, 2026

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