ACFE Exam CFE Topic 2 Question 32 Discussion

Actual exam question for ACFE's CFE exam

Question #: 32
Topic #: 2

[All CFE Questions]

_________ assumes the business will go on indefinitely in the future.

AMateriality

BGoing concern

CCost

DFair value

Show Suggested Answer

Suggested Answer: D

by Cristy at Feb 27, 2023, 07:39 PM

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Sharan

2 days ago

Hmm, I'd have to say B) Going concern. Isn't that the one where we assume the business will keep chugging along like the Energizer Bunny? I hope my boss feels the same way!

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Joni

7 days ago

But what about materiality? Doesn't that also play a role in financial reporting?

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Olive

9 days ago

I agree with Lisbeth, businesses are expected to continue operating in the future.

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Gilberto

16 days ago

Going concern, of course! That's the foundation of our financial reporting, right? Anything else would be like building a house on quicksand.

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Lisbeth

24 days ago

I think the answer is B) Going concern.

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