Free Access IIA.IIA-CIA-Part3.v2022-01-30.q150 Practice Test (Page 30)

Which of the following is a key characteristic of a zero-based budget?

A.A zero-based budget uses input from lower-level and middle-level managers to formulate budget plans.

B.A zero-based budget maintains focus on the budgeting process.

C.A zero-based budget is prepared each year and requires each item of expenditure to be justified.

D.A zero-based budget provides estimates of costs that would be incurred under different levels of activity.

CORRECT TEXT
A has a times-interest-earned ratio of:
A Pour times
B. Five times
C. 10 times
D. 15 times

Using the cost-recovery method of revenue, profit on an installment sale is recognized:

A.On the date of the installment sale.

B.In proportion to the cash collections.

C.After cash collections equal to the cost of goods sold have been received.

D.On the date the final cash collection is received.

The moving-average method of forecasting:

A.Is a cross-sectional forecasting method.

B.Regresses the variable of interest on a related variable to develop a forecast.

C.Derives final forecasts by adjusting the initial forecast based on the smoothing constant.

D.Includes each new observation in the average as it becomes available and discards the oldest observation.

Which of the following is a major element of the ISO 9000:2008 quality management system standards?

A.The principle that improved employee satisfaction will lead to increased productivity.

B.The attitude and actions of the board and management regarding the significance of control within the organization.

C.The assessment of the risk that objectives are not achieved.

D.A requirement for organizations to monitor information on customer satisfaction as a measure of performance.

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