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ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam - Topic 2 Question 84 Discussion

A __________ is a day-by-day, or chronological, record of transactions
B) Journal
A) Asset
C) Checkbook
D) Ledger

ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam - Topic 2 Question 84 Discussion

Actual exam question for ACFE's CFE-Financial-Transactions-and-Fraud-Schemes exam
Question #: 84
Topic #: 2
[All CFE-Financial-Transactions-and-Fraud-Schemes Questions]

A __________ is a day-by-day, or chronological, record of transactions

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Suggested Answer: B

by Carmela at Apr 14, 2024, 12:36 PM

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Hui
6 months ago
Journals have been around for ages, it's cool how they still matter!
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Mel
6 months ago
I thought a checkbook could also fit that description.
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Paris
7 months ago
Wait, are we sure it's not a ledger?
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Darnell
7 months ago
Definitely B, a journal is the right term!
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Ceola
7 months ago
A journal is used for recording transactions chronologically.
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Michal
7 months ago
I feel like "Checkbook" could fit too, but it’s more about tracking balances rather than transactions chronologically.
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Sheron
8 months ago
I keep mixing up "Journal" and "Ledger." I think a journal is more about daily entries, but I can't recall the exact definitions.
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Emelda
8 months ago
I practiced a similar question last week, and I believe "Journal" is correct since it tracks transactions day by day.
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Flo
8 months ago
I think the answer might be "Journal," but I'm not completely sure. I remember it being a chronological record.
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Melda
8 months ago
Journal is definitely the right answer. I remember learning about that in class, and it matches the description perfectly.
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Sarah
8 months ago
Journal is the obvious choice here. It's a day-by-day record of transactions, which is exactly what the question is describing.
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Dottie
8 months ago
Hmm, this seems straightforward, but I want to double-check the definitions of the options just to be sure I have the right one.
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Leoma
8 months ago
I'm pretty sure this is asking about a journal, which is a chronological record of transactions. I'll mark that option.
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Eleni
8 months ago
I'm a little unsure about this one. I know a journal is a record of transactions, but I want to make sure I'm not missing something in the other options.
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Fletcher
8 months ago
This seems like a straightforward question about the key parties involved in the transportation process. I'll carefully review each option and think through the roles of the different entities mentioned.
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Willetta
8 months ago
I'm really confused about this one. If entertaining costs are disallowable, shouldn't both profits decrease? That makes me doubt option D too.
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Magdalene
8 months ago
Okay, I think I've got a handle on this. I'll start by matching the actions to the resources, then double-check my work to make sure I have the right pairings.
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Gladis
8 months ago
I'm not sure, but I remember something about using Open APIs as an option. Maybe that's all it offers?
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Trinidad
1 year ago
Ledger? Checkbook? What is this, the Stone Age? I'm going with B) Journal. At least it sounds modern.
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Joanna
12 months ago
I prefer using a checkbook to physically write down transactions.
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Nettie
1 year ago
I think a ledger is still important for keeping track of transactions.
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Reita
1 year ago
I agree, a journal is definitely more modern.
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Cordell
1 year ago
A) Asset? Haha, nice try. I'm not falling for that corporate mumbo-jumbo.
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Kip
1 year ago
C) Checkbook? Really? That's so 20th century. Where's the cloud-based accounting software option?
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Emiko
1 year ago
D) Ledger
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Crista
1 year ago
B) Journal
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Kayleigh
1 year ago
D) Ledger, for sure. I bet the person who wrote this question keeps their receipts in a shoebox.
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Joni
1 year ago
B) Journal seems like the obvious choice here. Who doesn't love a good old-fashioned paper trail?
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Susy
1 year ago
I agree with German, a journal is like a diary for financial transactions
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German
1 year ago
I think it's B) Journal because it's where you record daily transactions in order
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Yasuko
1 year ago
B) Journal
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