IIA IIA-CIA-Part2 Quiz 92 Topic 1 Questions 456-460

Question: 1

An example of an internal nonfinancial benchmark is

AThe labor rate of comparably skilled employees at a major competitor's plant.

BThe average actual cost per pound of a specific product at the company's most efficient plant.

CA US $50,000 limit on the cost of employee training programs at each of the company's plants.

DThe percentage of customer orders delivered on time at the company's most efficient plant.

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Question: 2

Which of the following statements about TOM is false?

AThis approach can increase revenues and decrease costs significantly.

BTOM is a comprehensive approach to quality.

CTOM begins with internal suppliers requirements.

DTOM concepts are applicable to the operations of the internal audit activity itself.

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Question: 3

TOM is the continuous pursuit of quality in every aspect of organizational activities through a number of goals, which of the following is not one of those goals?

AA philosophy of doing it right the first time.

BPromotion of groupwork.

CEmployee training and empowerment.

DImprovement of processes.

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Question: 4

What is the first phase in the benchmarking process?

AOrganize benchmarking teams.

BSelect and prioritize benchmarking projects.

CResearching and identifying best-in-class performance.

DData analysis.

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Question: 5

Which of the following statements regarding benchmarking is false?

ABenchmarking involves continuously evaluating the practices of best-in-class rganizations and adapting company processes to incorporate the best of these practices.

BBenchmarking, in practice, usually involves a company's formation of benchmarking teams.

CBenchmarking is an ongoing process that entails quantitative and qualitative measurement of the difference between the company's performance of an activity and the performance by the best in the world or the best in the industry.

DThe benchmarking organization against which a firm is comparing itself must be a direct competitor.

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IIA IIA-CIA-Part2 Quiz:92 Topic:1 Questions:456-460