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ACFE Exam CFE-Financial-Transactions-and-Fraud-Schemes 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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Genevieve
1 days 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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Pamella
11 days 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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Nathalie
16 days 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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Leana
17 days ago
I'm not sure, but I think it's between A) and C).
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Sherell
21 days ago
I agree with Ellen, because when we credit the equity account, it increases.
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Ellen
24 days ago
I think the answer is C) Journal Entries & Credit.
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