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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

6 months ago

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

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Tula

6 months ago

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

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Nada

7 months ago

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

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Carmelina

7 months ago

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

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Graciela

7 months ago

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

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Tabetha

7 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

8 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

8 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

8 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

8 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

8 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

8 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

8 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

8 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

12 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

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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