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IIA IIA-CIA-Part2
Practice of Internal Auditing
Questions and Answers | : 347 |
File Format | |
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NEW QUESTION: 1
You need to recommend a solution for the documents stored in the Finance site.
What should you recommend?
A. Enable an Information Rights Management (IRM) policy for the libraries.
B. For each library, enable sensitivity labeling that uses protection.
C. From Settings in the SharePoint admin center, enable Information Rights Management ARM) for SharePoint Online.
D. Enable Azure Information Protection policy labeling.
Answer: A
NEW QUESTION: 2
On January 2, 1993, Quo, Inc. hired Reed to be its controller. During the year, Reed, working closely with
Quo's president and outside accountants, made changes in accounting policies, corrected several errors
dating from 1992 and before, and instituted new accounting policies.
Quo's 1993 financial statements will be presented in comparative form with its 1992 financial statements.
This question represents one of Quo's transactions. List A represents possible clarifications of these
transactions as: a change in accounting principle, a change in accounting estimate, a correction of an
error in previously presented financial statements, or neither an accounting change nor an accounting
error.
Item to Be Answered
Quo sells extended service contracts on its products. Because related services are performed over
several years, in 1993 Quo changed from the cash method to the accrual method of recognizing income
from these service contracts.
List A (Select one)
A. Change in accounting principal.
B. Neither an accounting change nor an accounting error.
C. Change in accounting estimate.
D. Correction of an error in previously presented financial statements.
Answer: D
Explanation:
Choice "c" is correct. Change from the cash method to the accrual method is a correction of an error in
previously presented financial statements.
NEW QUESTION: 3
-- Exhibit -
-- Exhibit -
The diagram is of the:
A. Process Workbench
B. ISO 9000
C. Malcolm Balridge Model
D. None of the above
E. Capability Maturity Model Integrated
Answer: E
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Practice of Internal Auditing
VCE Exam Simulator Q&A | : 347 |
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