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NEW QUESTION 140
According to I1A guidance on IT. which of the following activities regarding information security Is most likely to be the responsibility of line management as opposed to executive management, internal auditors, or the board?
- A. Dedicate sufficient security resources.
- B. Provide oversight to the security function.
- C. Assess information control environments.
- D. Review and monitor security controls.
Answer: A
NEW QUESTION 141
The following information relates to the activity of the defined postemployment benefit plan of Twain Publishers, Ltd.
Twain's expense recognized in the income statement is
- A. US $135,000
- B. US $120,000
- C. US $145,000
- D. US $140,000
Answer: C
Explanation:
Components of the expense are current service cost, interest cost, the expected return on plan assets, service cost recognition in full of vested amounts and amortization of nonvested amounts), and amortization of actuarial loss. Current service cost interest cost the amortization of actuarial loss, and the past service cost increase the expense The expected return on plan assets decreases the expense.
NEW QUESTION 142
Under a value-added taxing system:
- A. The amount of value added is the difference between an entity's sales and its cost of goods sold.
- B. Businesses must pay a tax only if they make a profit
- C. Consumer savings are discouraged.
- D. The consumer ultimately bears the incidence of the tax through higher prices.
Answer: D
Explanation:
A value-added tax is based on consumption. The tax is levied on the value added to goods by each business unit in the production and distribution chain. It is the consumer who ultimately bears the incidence of the tax because businesses subject to the tax will raise prices to offset the operating cost of the tax.
NEW QUESTION 143
Which of the following costs are not relevant in a special-order decision?
- A. Outlay costs.
- B. Incremental costs.
- C. Opportunity costs.
- D. Sunk costs.
Answer: D
Explanation:
Sunk costs are always irrelevant because they occurred in the past
NEW QUESTION 144
An internal auditor observed that the organization's disaster recovery solution will make use of a cold site in a town several miles away. Which of the following is likely to be a characteristic of this disaster recover/ solution?
- A. Recovery time is expected to be less than one week
- B. Recovery resources end data restore processes have not been defined.
- C. Data is synchronized in real time
- D. Servers are not available and need to be procured
Answer: D
NEW QUESTION 145
Quality costing is similar in service and manufacturing organizations. Nevertheless, the differences between these organizations have certain implications for quality management. Thus,
- A. Direct labor costs are usually a higher percentage of total costs in manufacturing organizations.
- B. Quality improvements resulting in more efficient use of labor time are more likely to be accepted by employees in service organizations.
- C. External failure costs are relatively greater in service organizations.
- D. Poor service is less likely to result in loss of customers than a faulty product.
Answer: C
Explanation:
External failure costs arise when problems occur after delivery. They occur because products or services are nonconforming or otherwise do not satisfy customers. External failure costs in service enterprises are even more important than in manufacturing environments. Faulty goods sometimes maybe reworked or replaced to a customer's satisfaction, but poor service tends to result in a loss of customers.
NEW QUESTION 146
An employee in the receiving department keyed in a shipment to the accounts payable system and inadvertently omitted the purchase order number. The best systems control to detect this error is:
- A. Completeness test.
- B. Reasonableness test.
- C. Compatibility test.
- D. Sequence check.
Answer: A
Explanation:
A completeness test checks that all data elements are entered before processing. An interactive system can be programmed to notify the user to enter the number before accepting the receiving report.
NEW QUESTION 147
An organization's network administrator received an email that appeared to come from the organization's external IT service provider requesting his credentials to perform an update of a server operating system If the IT service provider did not send the email, which of the following best describes the likely purpose of the email?
- A. An attempt at phishing.
- B. An attempt to patch the server
- C. An attempt to launch malware
- D. An attempt at penetration testing
Answer: A
NEW QUESTION 148
According to Herzberg's Two-Factor Theory of Motivation, which of the following factors are mentioned most often by satisfied employees?
- A. Responsibility and advancement.
- B. Salary and status.
- C. Peer relationships and personal life.
- D. Work conditions and security.
Answer: D
Explanation:
Explanation/Reference: https://www.mindtools.com/pages/article/herzberg-motivators-hygiene-factors.htm
NEW QUESTION 149
If a call option is out-of-the-money, the:
- A. Option has expired
- B. Option has become a put option.
- C. Value of the underlying asset is less than the exercise price.
- D. Option no longer exists.
Answer: C
Explanation:
When the value of the asset underlying a call option is less than the exercise price of the option, the option is out-of-money.
NEW QUESTION 150
A retail organization mistakenly did not include S10.000 of inventory in the physical count at the end of the year. What was the impact to the organization's financial statements?
- A. Cost of sales is understated and net income is overstated.
- B. Cost of sales and net income are overstated
- C. Cost of sales is overstated and net income is understated.
- D. Cost of sales and net income are understated
Answer: A
NEW QUESTION 151
According to Maslow's hierarchy of needs theory, which of the following best describes a strategy where a manager offers an assignment to a subordinate specifically to support his professional growth and future advancement?
- A. Self-fulfillment.
- B. Esteem by colleagues.
- C. Job security.
- D. Sense of belonging in the organization.
Answer: C
Explanation:
Explanation/Reference: https://opentextbc.ca/businessopenstax/chapter/maslows-hierarchy-of-needs/
NEW QUESTION 152
Which of the following statements is true regarding user developed applications (UDAs) and traditional IT applications?
- A. IT testing personnel usually review both types of applications thoroughly to ensure they were developed properly.
- B. UDAs arid traditional JT applications typically follow a similar development life cycle
- C. A UDA usually includes system documentation to illustrate its functions, and IT-developed applications typically do not require such documentation.
- D. Unlike traditional IT applications. UDAs typically are developed with little consideration of controls.
Answer: D
NEW QUESTION 153
Which of the following observations concerning quality control is most accurate?
- A. Process quality control is used to prevent defects, and product quality control is used primarily to identify defects after the fact.
- B. Process quality control is used when examining the quality of goads or services that already exist.
- C. Product quality control is more important than process quality control.
- D. Product quality control is designed to balance the marketability of higher quality against the cast of attaining higher quality.
Answer: A
Explanation:
Process quality is the effectiveness and efficiency of the organization's internal operations. Product quality is the conformance of the organization's output with customer expectations.
NEW QUESTION 154
Which of the following is false with regard to Internet connection firewalls?
- A. Firewalls provide network administrators tools to retaliate against hackers.
- B. Firewalls monitor attacks from the Internet.
- C. Firewalls can protect against computer viruses.
- D. Firewalls may be software-based or hardware-based.
Answer: C
Explanation:
Explanation/Reference:
NEW QUESTION 155
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. Compromising.
- B. Competing.
- C. Collaborating.
- D. Accommodating.
Answer: C
NEW QUESTION 156
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