CFE Dumps CFE Braindumps
CFE Real Questions CFE Practice Test CFE Actual Questions
killexams.com
Certified Financial Examiner (CFE)
https://killexams.com/pass4sure/exam-detail/CFE
The costs that provide a benefit to a company over more than one accounting period are
called:
Capital expenses
Revenue expenses
Asset expenses
Manufacturing equipments expenses
are potential obligations that will materialize only if certain events
occur in future.
Warranties returns
Liability omissions
Contingent liabilities
Concealed expenses
According to Accounting Changes and Errors Corrections, which of the following is
NOT the type accounting change that must be disclosed to avoid misleading the user of financial statements?
accounting principles
estimates
reporting entities
liability omissions
Improper asset valuations usually fall into which of the following category?
Inventory valuation
Accounts receivable
Business combinations
All of the above
To debit accounts receivables and credit sales is the typical entry under:
Fictitious account payables
Fictitious account receivables
Failure to write off account receivables
Failure to write off account payables
Which of the following is NOT the scheme of fixed assets that are subject to
manipulation?
Related party transactions
Booking fictitious assets
Misrepresentation asset valuation
Improperly capitalizing inventory and start-up costs
Which type of misstatements are considered relevant fro audit purpose?
Misstatements arising from fraudulent financial reporting
Misstatements arising from misappropriation of assets
Both A and B
Neither A nor B
In identifying risks that may result in material misstatements sue to fraud, auditors should consider:
type of risk
significance of risk
pervasiveness of risk
All of the above
Judgments about the risk of material misstatement due to fraud have an overall effect on
how the audit is concluded in what ways?
Assignment of personnel and supervision
Accounting principles
Predictability of auditing procedures
All of the above
Which of the following is NOT included in financial statement analysis?
Vertical analysis
Horizontal analysis
Fraction analysis
Ratio analysis
A technique for analyzing the relationships between the items on an income statement, balance sheet, or statement of cash flows by expressing components as percentages is called:
Vertical analysis
Horizontal analysis
Fraction analysis
Ratio analysis
A technique for analyzing the percentage change in individual financial statement items
from one year to the next in known as:
Vertical analysis
Horizontal analysis
Fraction analysis
Ratio analysis
A fraction analysis is a means of measuring the relationship between two different financial statement amounts.
True
False
The formula to calculate quick ratio is:
Quick ratio = (Credit + Securities + Receivables) / Current liabilities
Quick ratio = (Cash + Securities + Payables) / Final liabilities
Quick ratio = (Credit + Securities + Payables) / Final liabilities
Quick ratio = (Cash + Securities + Receivables) / Current liabilities
The receivable turnover can be calculated by which of the following formula:
Receivable turnover = Net Sales on Account / Average Net Receivables
Receivable turnover = Gross Sales on Account / Average Gross Receivables
Receivable turnover = Net Sales on Receivables / Average Net Account
Receivable turnover = Gross Sales on Receivables / Average Gross Account
Collection ratio can be calculated by the formula:
Collection Ratio = 365 / Payable Turnover
Collection Ratio = 365 + Net Income / Receivable Turnover
Collection Ratio = 365 / Receivable Turnover
Collection Ratio = 365 + Net Sales / Receivable Turnover
Which of the following is the formula for the inventory turnover?
Inventory turnover = Cost of Goods Purchased / Average Inventory
Inventory turnover = Cost of Goods Sold / Average Inventory
Inventory turnover = Cost of Goods Sold / Total Inventory
Inventory turnover = Cost of Goods Purchased / Total Inventory
The modification of behavior through the perception of negative sanctions is called:
Endorsement
Deterrence
Consent
Authorization
What is considered by most professionals to be the cornerstone of an employee reporting program?
Focus line
Report Foundation
Hotline
Imputed Reports
Which of the following is NOT the type of hotline?
Part-time hotline
Full-time hotline
Third-party hotline
Detective hotline
According to Wheelwright; branch of philosophy which is the systematic study of reflective choice, of the standards of right and wrong by which a person is to be guided, and of the goods toward which it may ultimately be directed id called:
Ethics
Morality
Legality
Saintliness
What advocates that there are concrete ethical principles that cannot be violated?
Utilitarian principle
Imperative principle
Functional activity
Serviceable principle
When each situation must be evaluated on its own, in essence, the end can justify the means, this is referred to as:
Situational ethics
Situational behavior
Situational principle
Situational hotline