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ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam - Topic 9 Question 74 Discussion

___________ and __________ are used to increase (or decrease) the equity account.
B) Journal Entries & transactions
A) Journal Entries & Debit
C) Journal Entries & Credit
D) None of all

ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam - Topic 9 Question 74 Discussion

Actual exam question for ACFE's CFE-Financial-Transactions-and-Fraud-Schemes exam
Question #: 74
Topic #: 9
[All CFE-Financial-Transactions-and-Fraud-Schemes Questions]

___________ and __________ are used to increase (or decrease) the equity account.

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Suggested Answer: B

by Raul at Aug 30, 2023, 02:09 AM

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Olive
8 months ago
Gotta go with A, debits and credits are key!
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Frederic
8 months ago
I’m surprised this is even a question, it’s so basic!
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Myra
8 months ago
Wait, can you really decrease equity with a credit?
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Terrilyn
9 months ago
I think it's transactions, not just journal entries.
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Stephaine
9 months ago
Journal entries are definitely used for equity changes.
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Isreal
9 months ago
I’m leaning towards Journal Entries & Credit, but I have a nagging feeling that I might be mixing it up with another topic.
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Jeannine
9 months ago
I feel like Journal Entries & Debit could be correct, but I can't recall if that actually increases equity.
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Stevie
9 months ago
I remember practicing a similar question, and I think Journal Entries & transactions was one of the options.
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Shawnda
10 months ago
I think it might be Journal Entries & Credit, but I'm not entirely sure about the credit part.
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Tammy
10 months ago
Hmm, this seems like a tricky one. I'll need to think through the Meraki best practices carefully to figure out the right approach.
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Merilyn
10 months ago
This question seems straightforward, but I want to make sure I understand the relationship between JSP and servlets before answering.
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Carey
10 months ago
I've got this one! The two required steps are A and B - uploading a CSV data file and creating a server template in Cisco UCM. I remember covering this in class, and the server template is an important part of the BAT process for bulk configuration. I feel confident about these being the right answers.
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Alica
1 year ago
Ah, the old equity account question. I'm going to go with C) Journal Entries & Credit. Anything else would be, well, not very equitable.
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Tamesha
1 year ago
Hmm, this one's a bit tricky. But I'm leaning towards C) Journal Entries & Credit. Can't go wrong with the classic equity account boosting combo.
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Sharen
1 year ago
Definitely, can't go wrong with that choice.
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Dyan
1 year ago
I agree, it's a classic way to increase equity.
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Kati
1 year ago
I think you're right, C) Journal Entries & Credit is the way to go.
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Genevieve
1 year ago
D) None of all? Really? I think the test writers are trying to trick us here. Of course journal entries and credits are used to increase the equity account.
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Linette
1 year ago
Well, we just have to remember the basics and not get tricked by the options.
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Nana
1 year ago
Maybe they are trying to test our knowledge on accounting principles.
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Johnetta
1 year ago
I think the test writers are trying to confuse us with that option.
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Barb
1 year ago
I agree, journal entries and credits are definitely used to increase the equity account.
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Pamella
1 year ago
I was about to go with B) Journal Entries & transactions, but then I remembered that transactions don't directly affect the equity account. Nice try, test writers!
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Dominga
1 year ago
C) Journal Entries & Credit
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Karan
1 year ago
A) Journal Entries & Debit
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Nathalie
1 year ago
I'm pretty sure the correct answer is C) Journal Entries & Credit. That's the standard way to increase the equity account.
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Josephine
1 year ago
Exactly, it's important to understand how journal entries affect equity.
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Judy
1 year ago
So, Journal Entries & Credit are used to add to the equity account.
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Bok
1 year ago
Yes, that's correct. Debit would decrease the equity account.
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Tambra
1 year ago
I think you're right, C) Journal Entries & Credit is used to increase the equity account.
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Leana
1 year ago
I'm not sure, but I think it's between A) and C).
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Sherell
1 year ago
I agree with Ellen, because when we credit the equity account, it increases.
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Ellen
1 year ago
I think the answer is C) Journal Entries & Credit.
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