The ACFE Does NOT Include Which of the Following Major

question 15

Multiple Choice

The ACFE does NOT include which of the following major categories of occupational fraud?

• A) Asset misappropriations
• B) Corruption
• C) Fraudulent statements
• D) Pension fraud

---

Definitions:

Accumulated Depreciation

The cumulative depreciation expense recorded for an asset from the time it was operational, thereby lowering its recorded value in the balance sheet.

Commercial Substance

A concept in accounting that refers to a transaction significantly altering the cash flows of an entity, necessitating its recognition in financial statements.

Double-Declining-Balance Method

A method of accelerated depreciation where an asset's book value is reduced at double the rate of straight-line depreciation.

Useful Life

The estimated duration of time a fixed asset is expected to be economically usable by an entity.