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ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam - Topic 9 Question 60 Discussion

Which of the following factors is NOT included in most financial statement schemes?
B) Persuasive Evidence
A) Fictitious revenues
C) Concealed liabilities and expenses
D) Improper asset valuations

ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam - Topic 9 Question 60 Discussion

Actual exam question for ACFE's CFE-Financial-Transactions-and-Fraud-Schemes exam
Question #: 60
Topic #: 9
[All CFE-Financial-Transactions-and-Fraud-Schemes Questions]

Which of the following factors is NOT included in most financial statement schemes?

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Suggested Answer: B

by Gracia at Oct 27, 2022, 02:04 PM

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Virgie
7 months ago
Improper asset valuations can happen, but not fictitious revenues!
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Anna
7 months ago
Concealed liabilities are usually included, right?
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Heike
7 months ago
Wait, are we sure about that? Seems fishy.
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Antione
8 months ago
I agree, that's a big no-no in financial statements!
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Louann
8 months ago
Fictitious revenues are definitely not standard.
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Marge
8 months ago
Improper asset valuations seem like they could be included, but I can't recall if they are specifically listed in the schemes. This is tricky!
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Cecily
8 months ago
I practiced a similar question about concealed liabilities last week, and I think they are usually included in financial statements, so maybe that's not the answer.
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Bulah
8 months ago
I feel like persuasive evidence might not be a standard factor in financial statements. It seems more subjective compared to the others.
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Ollie
8 months ago
I think I remember that fictitious revenues are often considered a red flag in financial statements, but I'm not sure if they're actually included in the schemes.
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Dorian
8 months ago
Hmm, I'm not totally sure how to create a Quick Part or where to save it in the template. I'll need to review those steps carefully.
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Louvenia
8 months ago
I think the answer is A. Network virtualization in data centers seems like the most relevant option based on my understanding of Ethernet VPNs.
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