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ACFE CFE Exam - Topic 4 Question 53 Discussion

Posted by Arlen on May 09, 2024 at 08:06 AM

''Anticipate possible losses and omit potential profits'', this results in:

Suggested Answer: D

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39 comments · newest first
KR
Kristian 11 months ago
I think it could also be seen as playing accounting, though.
LE
Leontine 11 months ago
Yup, omitting profits can skew the numbers.
TY
Tyra 11 months ago
Wait, are we sure about that? Sounds a bit off.
EL
Elroy 12 months ago
Totally agree, it's all about risk management!
FR
Freeman 12 months ago
This definitely leads to asymmetrical accounting.
KA
Kandis 12 months ago
I feel like I've seen a similar question before, and I think the answer was asymmetrical accounting. It makes sense to focus on potential losses.
AM
Amber 1 year ago
I’m a bit confused. I thought symmetrical accounting was about balancing profits and losses, but this question seems to suggest otherwise.
EV
Eva 1 year ago
I remember discussing how anticipating losses can lead to a conservative approach in accounting. Asymmetrical accounting seems like the right choice here.
MA
Maddie 1 year ago
I think this might relate to asymmetrical accounting, but I'm not entirely sure. It sounds familiar from our last practice exam.
RE
Reena 1 year ago
Wait, what's the difference between "asymmetrical accounting" and "playing accounting"? I'm a little confused by those options. I'll need to review my notes to make sure I understand the concepts properly.
HO
Horace 1 year ago
Okay, I've got this! Anticipating possible losses and omitting potential profits is the definition of asymmetrical accounting. That's the key to this question. I'm confident I can select the right answer.
JA
Jacqueline 1 year ago
Hmm, I'm a bit unsure about this one. The wording is a bit tricky, and I want to make sure I understand the implications of "anticipating possible losses" versus "omitting potential profits." Let me think this through step-by-step.
JA
Janine 1 year ago
This seems like a straightforward accounting question. I'll carefully read through the options and think about the key concepts of symmetry and asymmetry in accounting.
MA
Maricela 1 year ago
This is a good test of our understanding of accounting principles. I'll take my time, consider each option carefully, and try to apply the concepts we've learned in class to determine the correct answer.
PA
Paris 1 year ago
I'm a little unsure on this one. Is it "Products" maybe? Or was it "Presentation"? I'll have to guess and hope for the best.
HO
Holley 1 year ago
I'm a bit unsure about this one. DIACAP covers a lot of ground, and I don't want to guess and risk getting it wrong. I'll have to review my notes carefully.
DO
Dorinda 1 year ago
I seem to recall there was a lot of back and forth about whether to use `=` or `==` in filtering. I'm not certain which one fits for the Private LAN traffic here.
GR
Graciela 1 year ago
I'm a little confused by this question. Is the risk assessment specifically for IT-related training, or is it for the organization's training programs in general? That could impact which role is responsible. I'll have to re-read the question carefully.
TI
Tiara 1 year ago
This question seems straightforward, I think the answer is C - the wallboard server can't be located across the WAN.
ET
Ettie 1 year ago
Symmetrical accounting? Sounds like they want everything to be perfectly balanced, like all things should be.
RA
Rasheeda 1 year ago
↳ replying to Ettie
C) Playing accounting
SO
Son 1 year ago
↳ replying to Ettie
B) Symmetrical accounting
AF
Afton 1 year ago
↳ replying to Ettie
A) Asymmetrical accounting
VI
Virgina 2 years ago
Bearing accounting? Is that like when you have to bear the burden of the company's financial woes? Yikes, no thanks!
DO
Dorsey 1 year ago
↳ replying to Virgina
D) Bearing accounting
TR
Trevor 1 year ago
↳ replying to Virgina
C) Playing accounting
CA
Carmela 1 year ago
↳ replying to Virgina
B) Symmetrical accounting
HA
Harrison 1 year ago
↳ replying to Virgina
A) Asymmetrical accounting
DO
Dorothy 2 years ago
Hmm, 'playing accounting'? Sounds like a game I can get behind. Where do I sign up?
LA
Layla 1 year ago
↳ replying to Dorothy
User 2: No, I believe it's D) Bearing accounting.
NO
Noel 1 year ago
↳ replying to Dorothy
User 1: I think the answer is A) Asymmetrical accounting.
LO
Lonny 2 years ago
I'm pretty sure this is about asymmetrical accounting. The question description seems to fit that option.
FR
Freeman 1 year ago
↳ replying to Lonny
Exactly, that's the correct choice based on the question description.
SA
Samira 1 year ago
↳ replying to Lonny
So, the answer would be A) Asymmetrical accounting then.
LO
Louann 1 year ago
↳ replying to Lonny
Yeah, I agree. Anticipating losses and omitting potential profits is definitely asymmetrical accounting.
JU
Junita 1 year ago
↳ replying to Lonny
I think you're right, it does sound like asymmetrical accounting.
DO
Doyle 2 years ago
I'm not sure, but I think it might be B) Symmetrical accounting because it balances potential losses and profits.
JA
Javier 2 years ago
I disagree, I believe it is D) Bearing accounting because it involves taking risks.
FR
Francine 2 years ago
I think the answer is A) Asymmetrical accounting.
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