Financial CFEX Exam (page: 6)
Financial Certified Fraud Examiner (CFEX)
Updated on: 25-Dec-2025

Viewing Page 6 of 33

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

  1. Supplies
  2. Expenses
  3. Assets
  4. Equity

Answer(s): A



___________are the amounts which are owned to other entities:

  1. Supplies
  2. Expenses
  3. Assets
  4. Liabilities

Answer(s): D



Asset misappropriations have an effect on the liabilities and do also have an indirect effect on the equity account.

  1. True
  2. False

Answer(s): B



The difference between assets and liabilities is called:

  1. Equity B.
    Expense C.
    Revenue
  2. Income statement

Answer(s): A



___________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.

  1. Equity
  2. Balance sheet
  3. Income statement
  4. Financial record

Answer(s): B



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