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ACFE Exam CFE-Financial-Transactions-and-Fraud-Schemes Topic 10 Question 94 Discussion

Actual exam question for ACFE's CFE-Financial-Transactions-and-Fraud-Schemes exam
Question #: 94
Topic #: 10
[All CFE-Financial-Transactions-and-Fraud-Schemes Questions]

___________ is to allow the owner, investors, creditors and others with an interest to know the appropriate book worth of the business at a particular date.

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Suggested Answer: B

by Orville at Aug 08, 2024, 12:49 PM

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Winifred
1 months ago
I'm just glad they didn't ask about the 'off-balance-sheet' items. That's where the real fun is!
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Catalina
1 months ago
Equity? Nah, that's just one component of the balance sheet. The balance sheet as a whole is what gives the book value.
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Gaston
8 days ago
Equity is important, but the balance sheet as a whole is what gives the book value.
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Mollie
1 months ago
Financial records? Really? I think that's way too broad. We're looking for a specific financial statement here.
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Regenia
17 days ago
B) Balance sheet
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Dan
2 months ago
I'm pretty sure it's the income statement that provides the book value. That shows the company's revenue, expenses, and profits over a period of time.
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Bette
3 days ago
So, the income statement is more about the company's financial performance over a period of time.
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Marylyn
4 days ago
That's right, the balance sheet shows the company's assets, liabilities, and equity at a specific point in time.
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Heidy
5 days ago
The balance sheet actually provides the book worth of the business at a particular date.
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Krystina
10 days ago
B) Balance sheet
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France
11 days ago
The balance sheet actually provides the book worth of the business at a particular date.
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Billye
13 days ago
D) Financial record
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Sang
14 days ago
D) Financial record
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Minna
14 days ago
C) Income statement
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Shaunna
19 days ago
C) Income statement
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Yen
23 days ago
B) Balance sheet
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Denae
29 days ago
A) Equity
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Diane
1 months ago
B) Balance sheet
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Annita
1 months ago
A) Equity
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Rosenda
2 months ago
Balance sheet, of course! That's the financial statement that shows the company's assets, liabilities, and equity at a specific point in time.
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Justine
28 days ago
Investors and creditors rely on the balance sheet to make informed decisions about the business.
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Marget
29 days ago
The balance sheet helps to assess the company's financial health and stability.
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Albina
1 months ago
It's important for stakeholders to see the company's assets and liabilities in one place.
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Rima
1 months ago
Yes, the balance sheet provides a snapshot of the company's financial position.
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Abel
2 months ago
I agree with Maira, the balance sheet provides a snapshot of the company's assets, liabilities, and equity.
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Maira
2 months ago
I think it's B) Balance sheet because it shows the financial position of the business at a specific date.
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Leonor
3 months ago
B) Balance sheet
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