2022 Realistic Verified Free IIA IIA-CIA-Part3 Exam Questions [Q140-Q159]

QUESTION 140
Regardless of whether a company develops, buys, leases, or pays for the use of the software for EDI transmissions, internal audit should be responsible for evaluating whether the software:

QUESTION 141
A bank plans to open a branch in one of five locations (labeled L1, L2, L3, L4, L5). Demand for bank services may be high, medium, or low at each of these locations. Profits for each location-demand combination are presented in the payoff matrix.

If, in addition to the estimated profits .management of the bank assesses the probabilities of high, medium, and low demands to be 0.3.0.4, and 0.3, respectively, what is the expected opportunity loss from selecting location L4?

QUESTION 142
In which product-mix pricing strategy is it appropriate for the seller to accept any price that exceeds the storage and deliver} casts for the product?

QUESTION 143
Which of the following controls would an internal auditor consider the most relevant to reduce risks of project cost overruns?

QUESTION 144
Which of the following statements is true regarding reversing entries in an accounting cycled

QUESTION 145
If, in addition to the estimated profits, management of the bank assesses the probabilities of high, medium, and low demands to be 0.3, 0.4, and 0.3 respectively, what is the expected opportunity loss from selecting location of L4?

QUESTION 146
Which of the following best describes the lessee’s accounting for operating and finance leases?
Operating
Finance
Not capitalized
Capitalized
Capitalized
Capitalized
Not capitalized
Not capitalized
Capitalized
Not capitalized

QUESTION 147
Management of a company is attempting to build a reputation as a world-class manufacturer of quality products. Which of the following measures would not be used by the firm to measure quality?

QUESTION 148
In relation to the monetary unit amount of sales, which of the following cost classifications is appropriate for advertising and sales salaries costs?

QUESTION 149
A firm buys like-new computer equipment from bankrupt companies and resells it in foreign markets at prices significantly below those charged by competitors. The firm is:

QUESTION 150
Refer to the exhibit.

If the profit margin of an organization decreases, and all else remains equal, which of the following describes how the “Funds Needed” line in the graph below will shift?

QUESTION 151
For an engineering department with a total quality management program, important elements of quality management include all of the following except:

QUESTION 152
A value-added tax is collected on the basis of:

QUESTION 153
A bond that matures after one year has a face value of S250,000 and a coupon of $30,000. if the market price of the bond is 5265,000, which of the following would be the market interest rate?

QUESTION 154
Which component of an organization’s cybersecurity risk assessment framework would allow management to implement user controls based on a user’s role?

QUESTION 155
The feasible solution region is bounded by the lines connecting points:

QUESTION 156
The type of option that does not have the backing of stock is called a(n):

QUESTION 157
A control for ensuring that the source code and the executable code for a program match is:

QUESTION 158
In production management, product breakdown into component parts and lead times for procuring these parts is necessary for:

QUESTION 159
On December 1, Year 1, a company using the installment sales method sold goods that cost US $1.000 for US $1.500. The buyer paid US $100 down. Monthly payments start January 1. Year 2. Interest accrues at 1% per month on the unpaid balance. To the nearest dollar, the effect on profit for Year 1 is: