ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam - Topic 5 Question 57 Discussion

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

Question #: 57
Topic #: 5

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

Revenue is recognized when it is:

ARealized and Earned

BFictitious and Earned

CRealized and Evidenced

DAll of the above

Show Suggested Answer

Suggested Answer: A

by Mattie at Aug 23, 2022, 01:53 PM

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Lashaun

4 months ago

D is definitely not right; only A fits!

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Karan

4 months ago

C sounds interesting, but A is the classic answer.

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Iraida

4 months ago

Wait, are we sure about that? Seems too simple.

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Lashaun

5 months ago

Totally agree with A! That's the standard.

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Beckie

5 months ago

Revenue is recognized when it's realized and earned.

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Colton

5 months ago

I feel like "all of the above" could be a trick answer, but I can't recall if any of those terms overlap in the context of revenue recognition.

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Buffy

5 months ago

I’m a bit confused about the terms used in the options. Does "evidenced" in C mean something different from "earned"?

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Vanesa

5 months ago

I remember a practice question that emphasized the importance of being both realized and earned, so I’m leaning towards option A.

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Teddy

5 months ago

I think revenue is recognized when it's realized and earned, but I'm not entirely sure if there are exceptions.

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Adolph

5 months ago

I'm a bit confused by the wording of the options. Let me re-read the question and think through each choice carefully.

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Cristal

5 months ago

This looks like a straightforward question about supplier setup options. I'll go through the choices carefully and select the four that seem most relevant.

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