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ACFE CFE Exam - 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.

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Suggested Answer: D

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

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Ula
5 months ago
I thought cost was more important in this context.
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Lizette
6 months ago
B is correct, but I think materiality plays a role too.
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Johanna
6 months ago
Wait, is it really that straightforward?
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Graciela
6 months ago
Agreed! Without that assumption, everything falls apart.
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Derrick
6 months ago
Definitely B, going concern is key for financial statements.
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Lorean
6 months ago
I’m confused between going concern and fair value. I need to remember what each term specifically means in context.
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Roy
6 months ago
I practiced a similar question last week, and it was definitely about going concern. So I’m leaning towards B as well.
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Mirta
6 months ago
I'm not entirely sure, but I feel like it could also be related to materiality. I need to double-check that.
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Lili
7 months ago
I think the answer is B, Going concern. I remember it being about the assumption that a business will continue operating.
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Laura
7 months ago
This looks like a straightforward question about organizing and cleaning up categories in a Nutanix environment. I think I can handle this one.
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Sharmaine
7 months ago
Alright, time to put my knowledge to the test. I'll carefully consider each option and make sure I select the three that are specifically related to adding agents in ACCS.
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Meaghan
7 months ago
I'm a bit confused by the wording of this question. Can someone clarify what exactly is meant by "clustering" Expressways? That might help me figure this out.
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Broderick
12 months ago
Going concern? More like 'going, going, gone' if you ask me! But hey, at least we can dream, right?
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Alaine
11 months ago
D) Fair value
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Kenda
11 months ago
C) Cost
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Rosendo
11 months ago
B) Going concern
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Helene
11 months ago
A) Materiality
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Taryn
12 months ago
B) Going concern. Isn't that the one where we pretend the business will keep running forever, no matter what? Sounds like a great strategy to me!
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Lawrence
12 months ago
B) Going concern. Anything else would be like trying to predict the future - good luck with that, am I right? I'd rather just assume everything's going to be peachy.
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Enola
10 months ago
D) Fair value
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Francine
10 months ago
C) Cost
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Cordie
10 months ago
B) Going concern
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Maryann
10 months ago
A) Materiality
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Dahlia
10 months ago
B) Going concern. Anything else would be like trying to predict the future - good luck with that, am I right? I'd rather just assume everything's going to be peachy.
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Murray
11 months ago
D) Fair value
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Edmond
11 months ago
C) Cost
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Daniel
11 months ago
B) Going concern
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Carey
11 months ago
A) Materiality
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Sharan
1 year 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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Kristian
10 months ago
I hope my boss believes in the going concern assumption too, it's crucial for the business's success.
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Nohemi
10 months ago
That's correct! Going concern is an important concept in accounting to consider the future of the business.
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Shawn
11 months ago
I agree, it's like assuming the business will keep going and going, just like the Energizer Bunny.
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Alexia
11 months ago
Yes, you're right! Going concern is the assumption that the business will continue operating in the future.
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Ashlyn
11 months ago
Going concern is definitely a key concept in accounting to ensure the business can sustain its operations in the long run.
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Ciara
11 months ago
I think it's crucial for businesses to assess their ability to continue operating before making any financial decisions.
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Ernestine
12 months ago
I agree, it's important to consider the going concern assumption when evaluating a company's financial statements.
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Dahlia
12 months ago
Yes, you're right! Going concern is all about assuming the business will continue operating in the future.
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Joni
1 year ago
But what about materiality? Doesn't that also play a role in financial reporting?
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Olive
1 year ago
I agree with Lisbeth, businesses are expected to continue operating in the future.
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Gilberto
1 year 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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Whitley
11 months ago
Agreed, it's like the backbone of financial reporting.
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Francoise
12 months ago
Without the going concern assumption, financial statements would not reflect the true picture of the business.
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Jaime
12 months ago
It's definitely important to assume the business will continue operating in the future.
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Leslie
12 months ago
Yes, going concern is crucial for accurate financial reporting.
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Lisbeth
1 year ago
I think the answer is B) Going concern.
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