ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam - Topic 8 Question 69 Discussion

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

Question #: 69
Topic #: 8

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

Bank cut-off statements should be requested for 10-15 days after the closing date of the balance sheet.

ATrue

BFalse

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Suggested Answer: A

by Marguerita at Apr 25, 2023, 11:43 PM

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Shelba

4 months ago

Agreed, 10-15 days is what I've always heard!

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Angelica

4 months ago

Really? Seems like a long wait to me.

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Jeannetta

4 months ago

Definitely 10-15 days, that's correct!

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Anglea

5 months ago

I thought it was more like 5-10 days?

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Regenia

5 months ago

That's usually the standard timeframe!

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Bernadine

5 months ago

I believe it's true that we need those statements shortly after the closing date, but I need to double-check the exact number of days.

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Dong

5 months ago

I feel like the 10-15 days timeframe sounds familiar, but I can't recall if that's the standard. I might be mixing it up with something else.

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Alline

5 months ago

I remember practicing a question about bank cut-off statements, and I think it was around 30 days, not just 10-15.

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Freeman

5 months ago

I think the cut-off statements are usually requested for a period after the balance sheet date, but I'm not sure if it's exactly 10-15 days.

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Lynda

5 months ago

Okay, I got this. The Lean approach is all about optimizing the value stream, which is the series of steps required to make a product or deliver a service. I'm confident C is the right answer.

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Isidra

5 months ago

Hmm, I'm a bit unsure about this one. I know referential integrity has to do with how related data is handled, but I'm not totally clear on the specifics of the CASCADE option.

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Marti

5 months ago

Okay, I've got this. Since it's an internal requisition, the correct answer has to be Inter-Org transfer. That's the type of receipt Org B would use to receive the goods from Org A.

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