Independence Day Deal! Unlock 25% OFF Today – Limited-Time Offer - Ends In 00:00:00 Coupon code: SAVE25
Welcome to Pass4Success

- Free Preparation Discussions
Mail Us support@pass4success.com
Location US
Mob_nav_barsMENU

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.

Show Suggested Answer Hide Answer
Suggested Answer: B

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

Limited Time Offer

25%

Off

Get Premium CFE-Financial-Transactions-and-Fraud-Schemes Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel
Alica
1 months 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.
upvoted 0 times
...
Tamesha
1 months 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.
upvoted 0 times
Sharen
8 days ago
Definitely, can't go wrong with that choice.
upvoted 0 times
...
Dyan
15 days ago
I agree, it's a classic way to increase equity.
upvoted 0 times
...
Kati
24 days ago
I think you're right, C) Journal Entries & Credit is the way to go.
upvoted 0 times
...
...
Genevieve
2 months 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.
upvoted 0 times
Linette
9 days ago
Well, we just have to remember the basics and not get tricked by the options.
upvoted 0 times
...
Nana
17 days ago
Maybe they are trying to test our knowledge on accounting principles.
upvoted 0 times
...
Johnetta
22 days ago
I think the test writers are trying to confuse us with that option.
upvoted 0 times
...
Barb
28 days ago
I agree, journal entries and credits are definitely used to increase the equity account.
upvoted 0 times
...
...
Pamella
2 months 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!
upvoted 0 times
Dominga
1 months ago
C) Journal Entries & Credit
upvoted 0 times
...
Karan
2 months ago
A) Journal Entries & Debit
upvoted 0 times
...
...
Nathalie
3 months ago
I'm pretty sure the correct answer is C) Journal Entries & Credit. That's the standard way to increase the equity account.
upvoted 0 times
Josephine
1 months ago
Exactly, it's important to understand how journal entries affect equity.
upvoted 0 times
...
Judy
2 months ago
So, Journal Entries & Credit are used to add to the equity account.
upvoted 0 times
...
Bok
2 months ago
Yes, that's correct. Debit would decrease the equity account.
upvoted 0 times
...
Tambra
2 months ago
I think you're right, C) Journal Entries & Credit is used to increase the equity account.
upvoted 0 times
...
...
Leana
3 months ago
I'm not sure, but I think it's between A) and C).
upvoted 0 times
...
Sherell
3 months ago
I agree with Ellen, because when we credit the equity account, it increases.
upvoted 0 times
...
Ellen
3 months ago
I think the answer is C) Journal Entries & Credit.
upvoted 0 times
...

Save Cancel