Online Access Free ACFE.CFE.v2022-01-05.q135 Practice Test (Page 13)

Any expenses that are incurred but not paid by the end of the year are counted in our records of profit and loss, are called:

A.Accruals

B.Depreciations

C.Expenses

D.Financial record

_________ normally are carried on an organization's books as expenses because they tend to be consumed by the organization within a year of purchase.

A.Expenses

B.Supplies

C.Assets

D.Equity

The most common method for billing scheme is:

A.Register

B.Tips

C.Accident

D.None of the above

Which of the following is the criterion for bid solicitation?

A.Containing false statements

B.Allowing the purchaser to discuss possible employment with the contractor

C.To withdraw low bids

D.To falsify the bid log

A journal in which all sales made on credit or cash are listed is:

A.General journal

B.Accounts payable journal

C.Disbursement journal

D.Accounts receivable journal

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