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

Revenue is recognized when it is:
A) Realized and Earned
B) Fictitious and Earned
C) Realized and Evidenced
D) All of the above

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:

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Suggested Answer: A

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

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Lashaun
10 months ago
D is definitely not right; only A fits!
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Karan
10 months ago
C sounds interesting, but A is the classic answer.
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Iraida
10 months ago
Wait, are we sure about that? Seems too simple.
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Lashaun
11 months ago
Totally agree with A! That's the standard.
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Beckie
11 months ago
Revenue is recognized when it's realized and earned.
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Colton
11 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
11 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
11 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
11 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
11 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
11 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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