CFE - Financial Transactions and Fraud Schemes Exam QuestionsBrowse all questions from this exam

CFE - Financial Transactions and Fraud Schemes Exam - Question 33

Which of the following is NOT a justifiable reason to depart from generally accepted accounting principles (GAAP)?

A.

Departing from GAAP will make the company appear more profitable.

B.

Adherence to GAAP would produce misleading results.

C.

It is a common industry practice to give particular transactions a specific accounting treatment.

D.

The transaction at issue is considered to be immaterial.

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Correct Answer:

Discussion

2 comments

5a97e10Option: A

Nov 30, 2024

A for sure

AML_1234Option: A

Dec 21, 2024

A. Departing from GAAP will make the company appear more profitable.