ACFE Exam CFE-Financial-Transactions-and-Fraud-Schemes Topic 1 Question 104 Discussion

Actual exam question for ACFE's CFE-Financial-Transactions-and-Fraud-Schemes exam

Question #: 104
Topic #: 1

[All CFE-Financial-Transactions-and-Fraud-Schemes Questions]

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

ABalance sheet

BIncome statement

CFinancial statement

DGeneral journal

Show Suggested Answer

Suggested Answer: B

by Truman at Dec 04, 2024, 04:47 PM

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2 days ago

Income statement? Nah, that's about revenue and expenses, not account balances. Gotta be the balance sheet.

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5 days ago

A balance sheet? That's as clear as mud to me. I'll just guess and hope for the best!

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14 days ago

I agree with Frederick. The balance sheet provides a snapshot of what a company owns and owes.

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16 days ago

I think it's A) Balance sheet because it shows the financial position of a company at a specific point in time.

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25 days ago

A) Balance sheet

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