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Exam CFE - Financial Transactions and Fraud Schemes All Questions

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Exam CFE - Financial Transactions and Fraud Schemes topic 1 question 63 discussion

Actual exam question from ACFE's CFE - Financial Transactions and Fraud Schemes
Question #: 63
Topic #: 1
[All CFE - Financial Transactions and Fraud Schemes Questions]

Which of the following is TRUE regarding accrual-basis accounting?

  • A. Expenses are recorded in the accounting system as soon as they are paid.
  • B. The accrual method focuses on tracking a company’s current cash flow.
  • C. Revenues are generally recognized when services are rendered to a customer.
  • D. Accrual-basis accounting is simpler to use than cash-basis accounting.
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Suggested Answer: B 🗳️
by AML_1234 at Dec. 16, 2024, 4:02 p.m.

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AML_1234
4 weeks, 1 day ago
Selected Answer: C
Revenues are generally recognized when services are rendered to a customer.
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