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The most important reason to use risk assessment in audit planning is to:
The most important reason to use risk assessment in audit planning is to:A . Identify redundant controls.B . Improve budgeting accuracy.C . Enhance assurance provided to management.D . Assist in developing audit programs.View AnswerAnswer: C
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 of the following approaches is most likely to result in a successful negotiation?
A retail organization is considering acquiring a composite textile company. The retailer's due diligence team determined the value of the textile company to be $50 million. The financial experts forecasted net present value of future cash flows to be $60 million. Experts at the textile company determined their company's market...
To assess the performance of employees.
To assess the performance of employees.A . 1 and 2 onlyB . 1 and 3 onlyC . 2 and 3 onlyD . 2 and 4 onlyView AnswerAnswer: B
Which of the following describes the most likely year-over-year change to the organization's total liabilities and total stockholder equity?
An organization's balance sheet indicates that the total asset amount and the total capital stock amount remained unchanged from one year to the next, and no dividends were declared or paid. However, the organization reported a loss of $200,000. Which of the following describes the most likely year-over-year change to...
A software that translates hypertext markup language (HTML) documents and allows a user to view a remote web page is called:
A software that translates hypertext markup language (HTML) documents and allows a user to view a remote web page is called:A . A transmission control protocol/Internet protocol (TCP/IP).B . An operating system.C . A web browser.D . A web server.View AnswerAnswer: C
Technological uncertainty, subsidy, and spin-offs are usually characteristics of:
Technological uncertainty, subsidy, and spin-offs are usually characteristics of:A . Fragmented industries.B . Declining industries.C . Mature industries.D . Emerging industries.View AnswerAnswer: D
Which of the following is a major advantage of decentralized organizations, compared to centralized organizations?
Which of the following is a major advantage of decentralized organizations, compared to centralized organizations?A . Decentralized organizations are more focused on organizational goals.B . Decentralized organizations streamline organizational structure.C . Decentralized organizations tend to be less expensive to operate.D . Decentralized organizations tend to be more responsive to market...
According to the International Professional Practices Framework, internal auditors who are assessing the adequacy of organizational risk management processes should not:
According to the International Professional Practices Framework, internal auditors who are assessing the adequacy of organizational risk management processes should not:A . Recognize that organizations use different techniques for managing risk.B . Seek assurance that the key objectives of the risk management processes are being met.C . Determine and accept...
Which of the following methods, if used in conjunction with electronic data interchange (EDI), will improve the organization's cash management program, reduce transaction data input time and errors, and allow the organization to negotiate discounts with EDI vendors based on prompt payment?
Which of the following methods, if used in conjunction with electronic data interchange (EDI), will improve the organization's cash management program, reduce transaction data input time and errors, and allow the organization to negotiate discounts with EDI vendors based on prompt payment?A . Electronic funds transfer.B . Knowledge-based systems.C ....
