IIA-CIA-Part3 Practice Test

IIA-CIA-Part3 Practice Test practice questions, page 23 of 26, with answer review and explanations.

Question 111

Which of the following application-based controls is an example of a programmed edit check?

  1. Reasonableness check.
  2. Transaction log.
  3. Input error correction.
  4. Authorization for access.

Question 112

Which of the following describes the result if an organization records merchandise as a purchase, but fails to include it in the closing inventory count?

  1. The cost of goods sold for the period will be understated.
  2. The cost of goods sold for the period will be overstated.
  3. The net income for the period will be understated.
  4. There will be no effect on the cost of goods sold or the net income for the period.

Question 113

An organization's balance sheet indicates that the total asset amount and the total capital stock amount remained unchanged from one year to the next, and no dividends were declared or paid. However, the organization reported a loss of $200,000. Which of the following describes the most likely year-over-year change to the organization's total liabilities and total stockholder equity?

  1. The total liabilities and total stockholder equity both increased.
  2. The total liabilities and total stockholder equity both decreased.
  3. The total liabilities decreased, and the total stockholder equity increased.
  4. The total liabilities increased, and the total stockholder equity decreased.

Question 114

An organization accumulated the following data for the prior fiscal year: Value of - Percentage of - Quarter - Output Produced - Cost X - $4,750,000 2.9 $4,700,000 3.0 $4,350,000 3.2 $4,000,000 3.5 Based on this data, which of the following describes the value of Cost X in relation to the value of Output Produced?

  1. Cost X is a variable cost.
  2. Cost X is a fixed cost.
  3. Cost X is a semi-fixed cost.
  4. Cost X and the value of Output Produced are unrelated.

Question 115

Which of the following statements is false regarding the internal audit approach when a set of standards other than The IIA's Standards is applicable to a specific engagement?

  1. The internal auditor may cite the use of other standards during audit communications.
  2. If the other standards are government-issued, the internal auditor should apply them in conjunction with The IIA's Standards.
  3. If there are inconsistencies between the other standards and The IIA's Standards, the internal auditor must use the more restrictive standards.
  4. If there are inconsistencies between the other standards and The IIA's Standards, the internal auditor must use the less restrictive standards.