Free Access IIA.IIA-CIA-Part3.v2023-01-04.q110 Practice Test (Page 23)

Question 106

Which of the following is an example of a contingent liability that a company should record?

A.Possible product warranty costs.

B.The remote possibility of a contract breach.

C.A potential assessment of additional income tax.

D.The threat of a lawsuit by a competitor.

Question 107

According to IIA guidance, which of the following best describes an adequate management (audit.) trail application control for the general ledger?

A.Report identifying general ledger transactions by time and individual.

B.Report identifying data that is outside of system parameters

C.Report confirming that the general ledger data was processed without error

D.Report comparing processing results with original Input

Question 108

An internal auditor identified a database administrator with an incompatible dual role. Which of the following duties should not be performed by the identified administrator?

A.Preparing input data and maintaining the database.

B.Maintaining the database and providing its security,

C.Designing and maintaining the database.

D.Designing the database and providing its security

Question 109

Which of the following is classified as a product cost using the variable costing method?
1. Direct labor costs.
2. Insurance on a factory.
3. Manufacturing supplies.
4. Packaging and shipping costa.

A.2 and 4

B.1 and 3

C.1 and 2

D.3 and 4

Question 110

Several organizations have developed a strategy to open co-owned shopping malls. What would be the primary purpose of this strategy?

A.To increase market synergy.

B.To reduce costs.

C.To deliver enhanced value.

D.To exploit core competence.

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Question 106

Question 107

Question 108

Question 109

Question 110

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