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The economic order quantity for inventory is higher for an organization that has:
The economic order quantity for inventory is higher for an organization that has:A . Lower annual unit sales.B . Higher fixed inventory ordering costs.C . Higher annual carrying costs as a percentage of inventory value.D . A higher purchase price per unit of inventory.View AnswerAnswer: B
In order to maximize profit, how much of product Y should the organization produce each month?
An organization produces two products, X and Y. The materials used for the production of both products are limited to 500 kilograms (kg) per month. All other resources are unlimited and their costs are fixed. Individual product details are as follows: Product X Product Y Selling price per unit $10...
All of the following are possible explanations for a significant unfavorable material efficiency variance except:
All of the following are possible explanations for a significant unfavorable material efficiency variance except:A . Cutbacks in preventive maintenance.B . An inadequately trained and supervised labor force.C . A large number of rush orders.D . Production of more units than planned for in the master budget.View AnswerAnswer: D
Which stage of group development is characterized by a decrease in conflict and hostility among group members and an increase in cohesiveness?
Which stage of group development is characterized by a decrease in conflict and hostility among group members and an increase in cohesiveness?A . Forming stage.B . Norming stage.C . Performing stage.D . Storming stage.View AnswerAnswer: B
Which of the following statements is in accordance with COBIT?
Which of the following statements is in accordance with COBIT? 1) Pervasive controls are general while detailed controls are specific. 2) Application controls are a subset of pervasive controls. 3) Implementation of software is a type of pervasive control. 4) Disaster recovery planning is a type of detailed control.A ....
The market price is the most appropriate transfer price to be charged by one department to another in the same organization for a service provided when:
The market price is the most appropriate transfer price to be charged by one department to another in the same organization for a service provided when:A . There is an external market for that service.B . The selling department operates at 50 percent of its capacity.C . The purchasing department...
If legal or regulatory standards prohibit conformance with certain parts of The IIA's Standards, the auditor should do which of the following?
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...
When developing an effective risk-based plan to determine audit priorities, an internal audit activity should start by:
When developing an effective risk-based plan to determine audit priorities, an internal audit activity should start by:A . Identifying risks to the organization's operations.B . Observing and analyzing controls.C . Prioritizing known risks.D . Reviewing organizational objectives.View AnswerAnswer: D
What must be monitored in order to manage risk of consumer product inventory obsolescence?
What must be monitored in order to manage risk of consumer product inventory obsolescence? 1) Inventory balances. 2) Market share forecasts. 3) Sales returns. 4) Sales trends.A . 1 onlyB . 4 onlyC . 1 and 4 onlyD . 1, 2, and 3 onlyView AnswerAnswer: C
Which of the following is useful for forecasting the required level of inventory?
Which of the following is useful for forecasting the required level of inventory? 1) Statistical modeling. 2) Information about seasonal variations in demand. 3) Knowledge of the behavior of different business cycles. 4) Pricing models linked to seasonal demand.A . 1 and 2 onlyB . 2 and 3 onlyC ....
