IIA IIA-CIA-Part3 Quiz 33 Topic 9 Questions 161-165

Question: 1

During the last year, an organization had an opening inventory of $300,000, purchases of $980,000, sales of $1,850,000, and a gross margin of 40 percent. What is the closing inventory if the periodic inventory system is used?

A$170,000

B$280,000

C$300,000

D$540,000

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Question: 2

Which of the following best describes the concept of relevant cost?

AA future cost that is the same among alternatives.

BA future cost that differs among alternatives.

CA past cost that is the same among alternatives.

DA past cost that differs among alternatives.

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Question: 3

Which of the following corporate social responsibility strategies is likely to be most effective in minimizing confrontations with influential activists and lobbyists?

AContinually evaluate the needs and opinions of all stakeholder groups.

BEnsure strict compliance with applicable laws and regulations to avoid incidents.

CMaintain a comprehensive publicity campaign that highlights the organization's efforts.

DIncrease goodwill through philanthropic activities among stakeholder communities.

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Question: 4

Which of the following best describes a market signal?

AThe bargaining power of buyers is forcing a drop in market prices.

BThere is pressure from the competitor's substitute products.

CStrategic analysis by the organization indicates feasibility of expanding to new market niches.

DThe competitor announces a new warranty program.

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Question: 5

The first stage in the development of a crisis management program is to:

AFormulate contingency plans.

BConduct a risk analysis.

CCreate a crisis management team.

DPractice the response to a crisis.

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IIA IIA-CIA-Part3 Quiz:33 Topic:9 Questions:161-165