ACFE Exam CFE-Financial-Transactions-and-Fraud-Schemes Topic 8 Question 89 Discussion

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

Question #: 89
Topic #: 8

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

Which of the following is NOT standard of generally accepted accounting principles?

AConservatism

BCost

CFull disclosure

DQuality control

Show Suggested Answer

Suggested Answer: B

by Julio at May 28, 2024, 02:46 PM

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Lisbeth

6 days ago

Hmm, 'cost' seems like it should be a standard, right? How can you have accounting without considering costs?

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Tegan

4 hours ago

A) Conservatism

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Della

13 days ago

I'm pretty sure 'quality control' is not a standard of GAAP. It's more of an operational concept, not an accounting principle.

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Louann

4 days ago

A) Conservatism

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Verlene

27 days ago

You're right, Noble. Cost is a standard principle. So, the correct answer must be D) Quality control.

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Noble

28 days ago

I disagree, I believe it's B) Cost because cost is actually a standard principle in accounting.

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Verlene

1 months ago

I think the answer is D) Quality control.

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