[Free] Download New Updated (October 2016) IIA IIA-CIA-Part3 Real Exam 141-150

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QUESTION 141

The percentage of sales method, rather than the percentage of receivables method, would be used to estimate uncollectible accounts if an organization seeks to:

 

A.

Use an aging schedule to more closely estimate uncollectible accounts.

B.

Eliminate the need for an allowance for doubtful accounts.

C.

Emphasize the accuracy of the net realizable value of the receivables on the balance sheet.

D.

Use a method that approximates the matching principle.

 

Correct Answer: D

 

 

QUESTION 142

The first stage in the development of a crisis management program is to:

 

A.

Formulate contingency plans.

B.

Conduct a risk analysis.

C.

Create a crisis management team.

D.

Practice the response to a crisis.

 

Correct Answer: B

 

 

QUESTION 143

Refer to the exhibit. Presented below are partial year-end financial statement data (000 omitted from dollar amounts) for companies A and B:

 

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If company A has a quick ratio of 2:1, then it has an accounts receivable balance of:

 

A.

$100

B.

$200

C.

$300

D.

$500

 

Correct Answer: A

 

 

QUESTION 144

Which of the following conditions could lead an organization to enter into a new business through internal development rather than through acquisition?

 

A.

It is expected that there will be slow retaliation from incumbents.

B.

The acquiring organization has information that the selling organization is weak.

C.

The number of bidders to acquire the organization for sale is low.

D.

The condition of the economy is poor.

 

Correct Answer: A

 

 

QUESTION 145

During a review of a web-based application used by customers to check the status of their bank accounts, it would be most important for the internal auditor
to ensure that:

 

A.

Access to read application logs is restricted to authorized users.

B.

Account balance information is encrypted in the database.

C.

The web server used to host the application is located in a physically secure area.

D.

Sensitive data, such as account numbers, are submitted using encrypted communications.

 

Correct Answer: D

 

 

QUESTION 146

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 textilecompany determined their company’s market value to be $55 million if purchased by another entity. However, the textile company could earn more than $70 million from the retail organization due to synergies. Therefore, the textile company is motivated to make the negotiation successful. Which of the following approaches is most likely to
result in a successful negotiation?

 

A.

Develop a bargaining zone that lies between $50 million and $70 million and create sets of outcomes between $50 million and $70 million.

B.

Adopt an added-value negotiating strategy, develop a bargaining zone between $50 million and $70 million, and create sets of outcomes between $50 million and $70 million.

C.

Involve a mediator as a neutral party who can work with the textile company’s management to determine a bargaining zone.

D.

Develop a bargaining zone that lies between $55 million and $60 million and create sets of outcomes between $55 million and $60 million.

 

Correct Answer: D

 

 

QUESTION 147

Which of the following statements about slack time and milestones are true?

 

1. Slack time represents the amount of time a task may be delayed without delaying the entire project.

 

2. A milestone is a moment in time that marks the completion of the project’s major deliverables.

 

3. Slack time allows the project manager to move resources from one task to another to ensure that the project is finished on time.

 

4. A milestone requires resource allocation and needs time to be completed.

 

A.

1 and 4 only

B.

2 and 3 only

C.

1, 2, and 3 only

D.

1, 2, 3, and 4

 

Correct Answer: C

 

 

 

 

 

 

QUESTION 148

Maintenance cost at a hospital was observed to increase as activity level increased. The following data was gathered:

 

Activity Level –

 

Maintenance Cost

 

Month

 

Patient Days

 

Incurred

 

January

 

5,600

 

$7,900

 

February

 

7,100

 

$8,500

 

March

 

5,000

 

$7,400

 

April

 

6,500

 

$8,200

 

May

 

7,300

 

$9,100

 

June

 

8,000

 

$9,800

 

If the cost of maintenance is expressed in an equation, what is the independent variable for this data?

 

A.

Fixed cost.

B.

Variable cost.

C.

Total maintenance cost.

D.

Patient days.

 

Correct Answer: D

 

 

QUESTION 149

Which of the following principles are common to both hierarchical and open organizational structures?

 

1. Employees at all levels should be empowered to make decisions.

 

2. A supervisor’s span of control should not exceed seven subordinates.

 

3. Responsibility should be accompanied by adequate authority.

 

4. A superior cannot delegate the ultimate responsibility for results.

 

A.

1 and 2

B.

1 and 4

C.

2 and 3

D.

3 and 4

 

Correct Answer: D

 

 

QUESTION 150

Which stage in the industry life cycle is characterized by many different product variations?

 

A.

Introduction.

B.

Growth.

C.

Maturity.

D.

Decline.

 

Correct Answer: A

 

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