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ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam - Topic 6 Question 107 Discussion

Actual exam question for ACFE's CFE-Financial-Transactions-and-Fraud-Schemes exam
Question #: 107
Topic #: 6
[All CFE-Financial-Transactions-and-Fraud-Schemes Questions]

A journal in which all sales made on credit or cash are listed is:

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Suggested Answer: B

by Carylon at Feb 08, 2025, 04:20 AM

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Marguerita
3 months ago
Really? I always thought sales were tracked separately.
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Mozell
3 months ago
Nope, it's not that one! General journal is correct.
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Lawanda
4 months ago
Wait, are we sure? I thought it was the Disbursement journal.
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Cyril
4 months ago
Agreed, all transactions go there.
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Dorothea
4 months ago
It's definitely the General journal!
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Silva
4 months ago
I feel like the general journal is the right choice since it records all types of transactions, but I could be mixing it up with something else we studied.
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Ethan
5 months ago
I’m a bit confused. I thought the disbursement journal was for cash payments only, so that can't be it.
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Denae
5 months ago
I remember practicing a similar question, and I think it was about the accounts receivable journal. But that was specifically for credit sales, right?
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Anthony
5 months ago
I think the answer might be the general journal, but I'm not completely sure. We did cover this in class.
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Mattie
5 months ago
I'm a little stuck on this one. I know the different journals are used to record specific types of transactions, but I'm having trouble remembering which one is for all sales. I'll try to think it through logically and see if I can figure it out.
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Hui
5 months ago
Okay, I've got this! The general journal is where you record all transactions, so that's not the right answer. The accounts receivable journal is for credit sales, and the accounts payable journal is for purchases on credit. The disbursement journal is for cash payments. The answer must be B, the accounts receivable journal.
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Reid
5 months ago
Hmm, I'm a bit unsure about this one. I know there are different journals for different types of transactions, but I'm not totally clear on the differences. I'll try to eliminate the options that don't seem right.
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Noel
5 months ago
This looks like a straightforward accounting question. I'll carefully read through the options and think about which journal would record all sales, both credit and cash.
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Sonia
10 months ago
Ooh, trick question! The answer is actually E) The journal that makes the most money. Am I right or am I right? *wink*
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Graciela
8 months ago
E) The journal that makes the most money. Am I right or am I right? *wink*
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Tawna
8 months ago
D) General journal
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Kanisha
8 months ago
C) Accounts payable journal
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Willard
9 months ago
B) Accounts receivable journal
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Bettina
9 months ago
A) Disbursement journal
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Lacey
10 months ago
B) Accounts receivable journal is the way to go. I mean, who doesn't love a good ol' accounts receivable journal? It's like the rock star of the accounting world.
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Johnetta
8 months ago
Accounts payable journal is also important for tracking all the payments that need to be made.
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Amber
9 months ago
I prefer the general journal because it allows for more flexibility in recording different types of transactions.
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Tawanna
9 months ago
I agree, the accounts receivable journal is essential for keeping track of all sales.
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Brigette
10 months ago
I'm going with D) General journal. It's the catch-all journal, right? Everything goes in there, including sales, purchases, and that one time I spilled coffee on the books.
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Bulah
9 months ago
Actually, it's D) General journal. It's like the main hub for all transactions in the accounting system.
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Pamela
9 months ago
I think it's B) Accounts receivable journal. That's where we keep track of sales made on credit.
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Kate
9 months ago
Yes, you're right! The general journal is where all transactions are recorded.
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Portia
10 months ago
Definitely B. The accounts receivable journal is where you'd record all those juicy credit sales. Who needs a disbursement journal when you've got that sweet, sweet AR action going on?
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Wade
9 months ago
I agree with you, B is the right choice. Accounts receivable journal is specifically for sales made on credit.
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Nicolette
9 months ago
I'm going with D. General journal seems like it could cover all types of transactions.
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Leonora
10 months ago
I think it's B too. Accounts receivable journal is the way to go for tracking those sales.
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Gerardo
11 months ago
I'm not sure, but I think D) General journal could also be a possibility for recording sales transactions.
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Erasmo
11 months ago
I think the answer is B) Accounts receivable journal. It makes the most sense to keep track of all sales, both credit and cash, in one place.
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Tiara
10 months ago
Oh, I see. Thanks for clarifying that.
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Andra
10 months ago
Actually, it's B) Accounts receivable journal, specifically for sales made on credit.
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Shalon
10 months ago
I think it's D) General journal, because it records all types of transactions.
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Kristel
11 months ago
I agree, keeping track of all sales in one place is important.
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Vallie
11 months ago
I agree with Rebeca. Sales made on credit or cash should be recorded in the accounts receivable journal.
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Rebeca
11 months ago
I think the answer is B) Accounts receivable journal.
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