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

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Rhea

10 hours 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!

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Paulina

9 days 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.

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Julian

12 days 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.

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Aliza

2 days ago

B) Recorded sales

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Rosalia

4 days ago

I think it could also help detect occupational frauds.

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Torie

5 days ago

A) Employee theft

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Desiree

17 days 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.

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Yolande

18 days 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.

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