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ACFE Exam CFE-Financial-Transactions-and-Fraud-Schemes Topic 10 Question 94 Discussion

Actual exam question for ACFE's CFE-Financial-Transactions-and-Fraud-Schemes exam

Question #: 94
Topic #: 10

[All CFE-Financial-Transactions-and-Fraud-Schemes Questions]

___________ is to allow the owner, investors, creditors and others with an interest to know the appropriate book worth of the business at a particular date.

AEquity

BBalance sheet

CIncome statement

DFinancial record

Show Suggested Answer

Suggested Answer: B

by Orville at Aug 08, 2024, 12:49 PM

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Winifred

1 months ago

I'm just glad they didn't ask about the 'off-balance-sheet' items. That's where the real fun is!

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Catalina

1 months ago

Equity? Nah, that's just one component of the balance sheet. The balance sheet as a whole is what gives the book value.

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Gaston

15 days ago

Equity is important, but the balance sheet as a whole is what gives the book value.

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Mollie

2 months ago

Financial records? Really? I think that's way too broad. We're looking for a specific financial statement here.

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Solange

2 days ago

C) Income statement

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Micaela

6 days ago

A) Equity

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Regenia

24 days ago

B) Balance sheet

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Dan

2 months ago

I'm pretty sure it's the income statement that provides the book value. That shows the company's revenue, expenses, and profits over a period of time.

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Bette

10 days ago

So, the income statement is more about the company's financial performance over a period of time.

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Marylyn

11 days ago

That's right, the balance sheet shows the company's assets, liabilities, and equity at a specific point in time.

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Heidy

12 days ago

The balance sheet actually provides the book worth of the business at a particular date.

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Krystina

17 days ago

B) Balance sheet

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France

18 days ago

The balance sheet actually provides the book worth of the business at a particular date.

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Billye

20 days ago

D) Financial record

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Sang

21 days ago

D) Financial record

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Minna

21 days ago

C) Income statement

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Shaunna

26 days ago

C) Income statement

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Yen

1 months ago

B) Balance sheet

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Denae

1 months ago

A) Equity

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Diane

1 months ago

B) Balance sheet

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Annita

2 months ago

A) Equity

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Rosenda

2 months ago

Balance sheet, of course! That's the financial statement that shows the company's assets, liabilities, and equity at a specific point in time.

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Justine

1 months ago

Investors and creditors rely on the balance sheet to make informed decisions about the business.

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Marget

1 months ago

The balance sheet helps to assess the company's financial health and stability.

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Albina

1 months ago

It's important for stakeholders to see the company's assets and liabilities in one place.

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Rima

2 months ago

Yes, the balance sheet provides a snapshot of the company's financial position.

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Abel

3 months ago

I agree with Maira, the balance sheet provides a snapshot of the company's assets, liabilities, and equity.

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Maira

3 months ago

I think it's B) Balance sheet because it shows the financial position of the business at a specific date.

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Leonor

3 months ago

B) Balance sheet

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