ACFE Exam CFE-Financial-Transactions-and-Fraud-Schemes Topic 6 Question 68 Discussion

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

Question #: 68
Topic #: 6

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

The amount of cash on hand in a register may be compared to the amount showing in the register tape in order to detect _______.

AEmployee theft

BRecorded sales

CInternal audits

DOccupational frauds

Show Suggested Answer

Suggested Answer: D

by Colette at Apr 01, 2023, 03:48 PM

Limited Time Offer

25%

Off

Get Premium CFE-Financial-Transactions-and-Fraud-Schemes Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Rhea

2 months ago

Hmm, I'm feeling a bit cash-strapped trying to figure this one out. Maybe I need to do some forensic accounting to crack the case!

upvoted 0 times

Valentin

10 days ago

D) Occupational frauds

upvoted 0 times

...

Ezekiel

11 days ago

C) Internal audits

upvoted 0 times

...

Flo

13 days ago

B) Recorded sales

upvoted 0 times

...

Billye

1 months ago

A) Employee theft

upvoted 0 times

...

Paulina

2 months ago

I'm going with C) Internal audits. This comparison is a common practice in internal audits to ensure the business's financial records are accurate.

upvoted 0 times

Kendra

9 days ago

C) Internal audits

upvoted 0 times

...

Brinda

1 months ago

B) Recorded sales

upvoted 0 times

...

Adelle

1 months ago

A) Employee theft

upvoted 0 times

...

Julian

2 months ago

I disagree, I believe the correct answer is D) Occupational frauds. Comparing the cash and register tape can help uncover any fraudulent activities by employees.

upvoted 0 times

Jina

4 days ago

Recorded sales may not necessarily be the main reason for comparing cash and register tape.

upvoted 0 times

...

Wilburn

7 days ago

Internal audits could also help in detecting discrepancies between cash and register tape.

upvoted 0 times

...

Ma

9 days ago

I agree with you, it could also be D) Occupational frauds. Fraudulent activities can be detected by comparing cash and register tape.

upvoted 0 times

...

Cheryl

18 days ago

I think it's A) Employee theft. Employees could be stealing cash from the register.

upvoted 0 times

...

Shawnda

24 days ago

D) Occupational frauds

upvoted 0 times

...

Ulysses

30 days ago

Yes, comparing cash and register tape is important for detecting fraud.

upvoted 0 times

...

Aliza

2 months ago

B) Recorded sales

upvoted 0 times

...

Rosalia

2 months ago

I think it could also help detect occupational frauds.

upvoted 0 times

...

Torie

2 months ago

A) Employee theft

upvoted 0 times

...

Desiree

2 months ago

B) Recorded sales seems like the logical answer here. By comparing the cash to the register tape, you can ensure all sales have been properly recorded.

upvoted 0 times

Polly

1 months ago

C) Internal audits

upvoted 0 times

...

Chauncey

1 months ago

B) Recorded sales

upvoted 0 times

...

Fletcher

2 months ago

A) Employee theft

upvoted 0 times

...

Yolande

2 months ago

I think A) Employee theft is the correct answer. Comparing the cash on hand to the register tape can help identify any missing cash, which could indicate employee theft.

upvoted 0 times

...