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ACFE CFE Exam - Topic 4 Question 72 Discussion

Actual exam question for ACFE's CFE exam
Question #: 72
Topic #: 4
[All CFE Questions]

Skimming is:

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Suggested Answer: C

by Galen at Jan 24, 2025, 10:40 AM

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Ashton
3 months ago
Not sure if I buy that definition, seems too simple.
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Tula
3 months ago
Totally agree, it’s all about that pre-entry cash!
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Nada
4 months ago
Wait, so it’s not just about stealing cash?
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Carmelina
4 months ago
I thought it was after the entry, but I guess not!
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Graciela
4 months ago
Skimming is definitely about removing cash before it's recorded.
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Tabetha
4 months ago
I definitely recall skimming being linked to cash removal, but I can't remember if it was before or after entry.
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Tamra
5 months ago
I feel like skimming could also refer to something else entirely, maybe option D is the right choice?
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Billye
5 months ago
I remember a practice question where we discussed cash removal, and I think it was related to option C.
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Sherell
5 months ago
I think skimming is about removing cash, but I'm not sure if it's before or after it gets recorded.
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Maryann
5 months ago
This is a tricky one, but I'm going to use the process of elimination. Options B and D don't seem to fit the definition of skimming, so I'm going to rule those out. Between A and C, I think A is the better match, so that's my final answer.
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Shelba
5 months ago
Wait, I'm confused. The options are talking about removing or adding cash, but I thought skimming was more about quickly reading through something to get the main points. I'm not sure which answer is correct here.
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Pilar
5 months ago
Okay, I think I've got it. Skimming is the removal of cash from a victim entity before it's entered into the accounting system. That matches option A, so I'm going to go with that.
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Aleta
5 months ago
Hmm, I'm a little unsure about this one. The options seem to be getting at some kind of financial fraud or theft, but I want to make sure I fully understand the concept of "skimming" before answering.
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Oretha
5 months ago
This one seems pretty straightforward. I'm going to carefully read through the options and select the one that best matches the definition of "skimming" that I'm familiar with.
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Daniela
10 months ago
Skimming, shmimming - I prefer to keep my hands clean and my ledgers balanced. Option D all the way!
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Abel
10 months ago
D) None of the above? More like 'None of the above board' when it comes to these shady practices.
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Antonio
9 months ago
D) None of the above? More like 'None of the above board' when it comes to these shady practices.
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Remona
9 months ago
C) The removal of cash from a victim entity after its entry in an accounting system.
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Herminia
10 months ago
A) The removal of cash from a victim entity prior to its entry in an accounting system.
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Dalene
11 months ago
I think the answer is A, because skimming involves stealing cash before it's accounted for.
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Bernadine
11 months ago
Ah, the classic 'cash disappearance act' - a magician's dream, but definitely not an accountant's.
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Paola
10 months ago
C) The removal of cash from a victim entity after its entry in an accounting system.
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Cecilia
10 months ago
A) The removal of cash from a victim entity prior to its entry in an accounting system.
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Alayna
10 months ago
D) None of above
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Shanda
10 months ago
C) The removal of cash from a victim entity after its entry in an accounting system.
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Zoila
10 months ago
A) The removal of cash from a victim entity prior to its entry in an accounting system.
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Becky
11 months ago
Skimming? More like 'skim milk' - the less you take, the better for your waistline and your conscience!
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Deandrea
11 months ago
I agree with Jarod, skimming is about taking cash before it's recorded.
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Jarod
11 months ago
Skimming is the removal of cash from a victim entity prior to its entry in an accounting system.
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