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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:

AThe removal of cash from a victim entity prior to its entry in an accounting system.

BThe addition of cash from a victim entity prior to its entry in an accounting system.

CThe removal of cash from a victim entity after its entry in an accounting system.

DNone of above

Show Suggested Answer

Suggested Answer: C

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

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Ashton

9 months ago

Not sure if I buy that definition, seems too simple.

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Tula

9 months ago

Totally agree, it’s all about that pre-entry cash!

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Nada

10 months ago

Wait, so it’s not just about stealing cash?

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Carmelina

10 months ago

I thought it was after the entry, but I guess not!

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Graciela

10 months ago

Skimming is definitely about removing cash before it's recorded.

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Tabetha

10 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

11 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

11 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

11 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

11 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

11 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

11 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

11 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

11 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

1 year ago

Skimming, shmimming - I prefer to keep my hands clean and my ledgers balanced. Option D all the way!

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Abel

1 year 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

1 year 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

1 year ago

C) The removal of cash from a victim entity after its entry in an accounting system.

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Herminia

1 year ago

A) The removal of cash from a victim entity prior to its entry in an accounting system.

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Dalene

1 year ago

I think the answer is A, because skimming involves stealing cash before it's accounted for.

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Bernadine

1 year ago

Ah, the classic 'cash disappearance act' - a magician's dream, but definitely not an accountant's.

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Paola

1 year ago

C) The removal of cash from a victim entity after its entry in an accounting system.

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Cecilia

1 year ago

A) The removal of cash from a victim entity prior to its entry in an accounting system.

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Alayna

1 year ago

D) None of above

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Shanda

1 year ago

C) The removal of cash from a victim entity after its entry in an accounting system.

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Zoila

1 year ago

A) The removal of cash from a victim entity prior to its entry in an accounting system.

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Becky

1 year ago

Skimming? More like 'skim milk' - the less you take, the better for your waistline and your conscience!

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Deandrea

1 year ago

I agree with Jarod, skimming is about taking cash before it's recorded.

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Jarod

1 year ago

Skimming is the removal of cash from a victim entity prior to its entry in an accounting system.

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