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ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam - Topic 8 Question 38 Discussion

Inventory shrinkage is the unaccounted-for reduction in the company's inventory that does not results from theft.
B) False
A) True

ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam - Topic 8 Question 38 Discussion

Actual exam question for ACFE's CFE-Financial-Transactions-and-Fraud-Schemes exam
Question #: 38
Topic #: 8
[All CFE-Financial-Transactions-and-Fraud-Schemes Questions]

Inventory shrinkage is the unaccounted-for reduction in the company's inventory that does not results from theft.

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Suggested Answer: B

by Dottie at May 08, 2022, 11:32 AM

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Maricela
7 months ago
Really? I always thought it was just theft-related.
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Elliot
7 months ago
Totally agree, it's not just about stealing!
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Angella
8 months ago
I thought it included things like damage too.
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Jules
8 months ago
Wait, isn't shrinkage mostly due to theft?
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Berry
8 months ago
That's definitely true!
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Darrin
8 months ago
Ah yes, the 5S principles - I've studied these before. The key steps are sort, straighten, shine, standardize, and sustain. I'm confident that option C is the correct answer here.
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Johnetta
8 months ago
I remember practicing a question like this in preparation. I want to say it's indirect expense, but I also have a nagging feeling it could fit under indirect labour cost.
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Jeniffer
8 months ago
I've got a good handle on this topic, so I'm feeling confident. I'd say the @CALCMODE function is a really powerful feature that gives enhanced calc scripts more flexibility than the native Essbase version.
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Jennie
8 months ago
Okay, I remember learning about composition initiators in class. I think the key is understanding how they differ from the standard composition controller.
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