ACFE Exam CFE-Financial-Transactions-and-Fraud-Schemes Topic 8 Question 103 Discussion

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

Question #: 103
Topic #: 8

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

Skimming is:

AThe removal of cash from a victim entity prior to its entry in an accounting system.

BThe addition of cash from a victim entity prior to its entry in an accounting system.

CThe removal of cash from a victim entity after its entry in an accounting system.

DNone of above

Show Suggested Answer

Suggested Answer: D

by Eleni at Nov 19, 2024, 03:33 PM

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7 days ago

Skimming? Sounds like something I do with my morning coffee. But this option A seems a bit too shady for my taste.

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21 days ago

I think it's important to understand skimming to prevent fraud in accounting.

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22 days ago

I agree with Hildegarde, skimming is about taking cash before it's recorded.

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24 days ago

Skimming is the removal of cash from a victim entity prior to its entry in an accounting system.

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