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An organization's account for office supplies on hand had a balance of S9,000 at the end of year one. During year two. the organization recorded an expense of $45,000 for purchasing office supplies. At the end of year two. a physical count determined that the organization has $11,500 in office supplies on hand. Based on this information, what would be recorded in the adjusting entry at the end of year two?

A.

A debit to office supplies on hand for S2.500

B.

A debit to office supplies on hand for $11,500

C.

A debit to office supplies on hand for S20.500

D.

A debit to office supplies on hand for S42.500

According to IIA guidance, which of the following statements is true with regard to workstation computers that access company information stored on the network?

A.

individual workstation computer controls are not as important as companywide server controls.

B.

Particular attention should be paid to housing workstations away from environmental hazards.

C.

Cybersecurity issues can be controlled at an enterprise level making workstation level controls

redundant

D.

With security risks near an all-time high workstations should not be connected to the company network

A bicycle manufacturer incurs a combination of fixed and variable costs with the production of each bicycle Which of the following statements true recording these costs?

A.

If the number of bicycles produced is increased by 15 percent, the variable cost per unit will increase proportionally

B.

The fixed cost per unit will vary directly based on the number of bicycles produced during the

production cycle

C.

The total variable cost will vary proportionally and inversely with the number of bicycles produced during a production run

D.

If the number of bicycles produced is increased by 30 percent the fixed cost per unit will decline

An organization is projecting sales of 100,000 units, at a unit price of $12. Unit variable costs are $7. If fixed costs are $350,000, what is the projected total contribution margin?

A.

$350,000

B.

$500,000

C.

$850,000

D.

$1,200,000

Which of the following costs would be incurred in an inventory stockout?

A.

Lost sales, lost customers, and backorder.

B.

Lost sales, safety stock, and backorder.

C.

Lost customers, safety stock, and backorder.

D.

Lost sales, lost customers, and safety stock.

Which of the following is the primary benefit of including end users in the system development process?

A.

Improved integrity of programs and processing.

B.

Enhanced ongoing maintenance of the system.

C.

Greater accuracy of the testing phase.

D.

Reduced need for unexpected software changes.

Which of the following are included in ISO 31000 risk principles and guidelines?

A.

Standards, framework, and process.

B.

Standards, assessments, and process.

C.

Principles, framework, and process.

D.

Principles, practices, and process.

If legal or regulatory standards prohibit conformance with certain parts of The IIA's Standards, the auditor should do which of the following?

A.

Conform with all other parts of The IIA's Standards and provide appropriate disclosures.

B.

Conform with all other parts of The IIA's Standards; there is no need to provide appropriate disclosures.

C.

Continue the engagement without conforming with the other parts of The IIA's Standards.

D.

Withdraw from the engagement.

Which of the following conflict resolution methods should be applied when the intention of the parties is to solve the problem by clarifying differences and attaining everyone's objectives?

A.

Accommodating.

B.

Compromising.

C.

Collaborating.

D.

Competing.

Which of the following roles would be least appropriate for the internal audit activity to undertake with regard to an organization's corporate social responsibility (CSR) program?

A.

Consult on project design and implementation of the CSR program.

B.

Serve as an advisor on internal controls related to CSR.

C.

Identify and prioritize the CSR issues that are important to the organization.

D.

Evaluate the effectiveness of the organization's CSR efforts.