Deal of The Day! Hurry Up, Grab the Special Discount - Save 25% - Ends In 00:00:00 Coupon code: SAVE25
Welcome to Pass4Success

- Free Preparation Discussions
Mail Us support@pass4success.com
Location US
Mob_nav_barsMENU

ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam - Topic 1 Question 126 Discussion

Once the expense account is closed, it becomes a historical item and probably will never be reviewed again.
A) True
B) False

ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam - Topic 1 Question 126 Discussion

Actual exam question for ACFE's CFE-Financial-Transactions-and-Fraud-Schemes exam
Question #: 126
Topic #: 1
[All CFE-Financial-Transactions-and-Fraud-Schemes Questions]

Once the expense account is closed, it becomes a historical item and probably will never be reviewed again.

Show Suggested Answer Hide Answer
Suggested Answer: A

by Cassi at May 12, 2026, 11:34 AM

Limited Time Offer

25%

Off

Get Premium CFE-Financial-Transactions-and-Fraud-Schemes Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

0/2000 characters
Submit Cancel
India
4 days ago
I think it's A) True. Once closed, it's done.
upvoted 0 times
...
Karma
9 days ago
Sounds too final, are you sure about that?
upvoted 0 times
...
Stevie
15 days ago
That's how it usually goes, but you never know!
upvoted 0 times
...
Salina
20 days ago
Really? I thought they might get looked at again.
upvoted 0 times
...
Devon
25 days ago
I disagree, sometimes they get reviewed for audits.
upvoted 0 times
...
Fletcher
1 month ago
A) True, once it's closed, it's done.
upvoted 0 times
...
Beatriz
1 month ago
Historical item? Sounds a bit extreme to me!
upvoted 0 times
...
Merissa
1 month ago
True, but it depends on the company's policy.
upvoted 0 times
...
William
2 months ago
Wait, really? I thought they could be reviewed if needed.
upvoted 0 times
...
Tamra
2 months ago
I disagree, sometimes they get audited later.
upvoted 0 times
...
Buddy
2 months ago
A) True, once it's closed, it's done.
upvoted 0 times
...
Dominga
2 months ago
I’m leaning towards true, but I recall some cases where past expenses were analyzed for trends. It's confusing!
upvoted 0 times
...
Micheal
2 months ago
This sounds familiar; I think we had a practice question about closing accounts and their relevance. Could be true?
upvoted 0 times
...
Luis
2 months ago
I’m not entirely sure, but I feel like we discussed how some historical items can still be referenced for future budgeting.
upvoted 0 times
...
Yasuko
4 months ago
I think I remember something about expense accounts being reviewed during audits, so maybe it's false?
upvoted 0 times
...

Save Cancel