IIA IIA-CIA-Part3 Quiz 40 Topic 6 Questions 196-200

Question: 1

In which of the following plans is an employee most likely to find guidance on action and performance standards?

AOperational plans.

BTactical plans.

CStrategic plans.

DMission plans.

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Question: 2

An internal auditor was asked to review an equal equity partnership In one sampled transaction Partner A transferred equipment into the partnership with a self-declared value of $10,000 and Partner B contributed equipment with a self-declared value of $15 000 The capital accounts of each partner were subsequently credited with S12,500. Which of the following statements is true regarding this transaction?

AThe capital accounts of the partners should be increased by the original cost of the contributed equipment.

BThe capital accounts should be increased using a weighted average based on the current percentage of ownership

CNo action is needed as the capital account of each partner was increased by the correct amount

DThe capital accounts of the partners should be increased by the fair market value of their contribution

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Question: 3

Organizations mat adopt just-in-time purchasing systems often experience which of the following?

AA slight increase in carrying costs.

BA greater need for inspection of goods as the goods arrive.

CA greater need for linkage with a vendor s computerized order entry system.

DAn increase in the number of suitable suppliers

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Question: 4

According to HA guidance or IT which of the following spreadsheets is most likely to be considered a high-risk user-develop application?

AA revenue calculation spreadsheet supported with price and volume reports from the production department

BAn asset retirement calculation spreadsheet comprised of multiple formulas and assumptions

CAn ad-hoc inventory listing spreadsheet comprising details of written-off inventory quantitates

DAn accounts receivable reconciliation spreadsheet used by the accounting manager to verify balances.

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Question: 5

A holding company set up a centralized group technology department, using a local area network with a mainframe computer to process accounting information for all companies within the group. An internal auditor would expect to find all of the following controls within the technology department except:

AAdequate segregation of duties between data processing controls and file security controls.

BDocumented procedures for remote job entry and for local data file retention.

CEmergency and disaster recovery procedures and maintenance agreements in place to ensure continuity of operations.

DEstablished procedures to prevent and detect unauthorized changes to data files.
Topic 2, Exam Pool B

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IIA IIA-CIA-Part3 Quiz:40 Topic:6 Questions:196-200