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ACFE CFE Exam - Topic 2 Question 27 Discussion

Actual exam question for ACFE's CFE exam
Question #: 27
Topic #: 2
[All CFE Questions]

Revenue is recognized when it is:

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Suggested Answer: A

by Kattie at Nov 20, 2022, 01:31 AM

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Noah
4 months ago
A is correct according to GAAP!
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Dalene
4 months ago
I thought it was more complicated than just "realized and earned."
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Roxane
4 months ago
Wait, are we sure about that? Seems too simple.
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Dannie
5 months ago
Totally agree with A! That's the standard.
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Joanne
5 months ago
Revenue is recognized when it's realized and earned.
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Esteban
5 months ago
I feel like "realized and evidenced" might be a trick option, but I can't recall if that's a common phrase in our studies.
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Gracie
5 months ago
I’m a bit confused about the terms used in the options. "Fictitious" doesn’t sound right for revenue recognition.
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Ahmad
5 months ago
I remember a practice question that emphasized "realized and earned," so I’m leaning towards option A.
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Dottie
5 months ago
I think revenue is recognized when it’s realized and earned, but I’m not completely sure about the wording.
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Shenika
5 months ago
This is a good test of my understanding of LTM routing. I'll need to think through the different scenarios and how the LTM device would handle them.
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Lauran
5 months ago
Copies of the tax return? That seems like an odd one. I'll have to double-check my understanding of the requirements for this type of due diligence.
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Louvenia
5 months ago
Hashes are great for ensuring the authenticity of data, so I think the answer is C.
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Portia
5 months ago
This is a tricky one. I feel like I should know the answer, but I'm drawing a blank. Maybe I'll start by eliminating the options that don't sound like functional analysis tools, then focus on the ones that do.
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Fannie
5 months ago
This question seems straightforward, but I want to make sure I understand the requirements correctly before selecting an answer.
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