Online Access Free IIA.IIA-ACCA.v2022-01-26.q205 Practice Test (Page 29)

IIA-ACCA Exam Question 136

Which of the following are the most appropriate measures for evaluating the change in an organization's liquidity position?

A.Accounts receivable turnover, return on assets, and the current ratio.

B.Times interest earned, return on assets, and inventory turnover.

C.Accounts receivable turnover, inventory turnover in days, and the current ratio.

D.Inventory turnover in days, the current ratio, and return on equity.

IIA-ACCA Exam Question 137

Which of the following statements describes an engagement planning best practice?

A.The engagement plan includes the expected distribution of the audit results, which should be kept confidential until the audit report is final.

B.Engagement planning activities include setting engagement objectives that align with audit client's business objectives.

C.It is best to determine planning activities on a case-by-case basis because they can vary widely from engagement to engagement.

D.If the engagement subject matter is not unique, it is not necessary to outline specific testing procedures during the planning phase.

IIA-ACCA Exam Question 138

Which of the following authentication controls combines what a user knows with the unique characteristics of the user respectively?

A.Password and fingerprint.

B.Voice recognition and token.

C.Fingerprint and voice recognition

D.Password and token

IIA-ACCA Exam Question 139

Which of the following is the primary reason the chief audit executive should consider the organization's strategic plans when developing the annual audit plan?

A.Strategic plans are likely to show areas of weak financial controls.

B.The strategic plan is a relatively stable document on which to base audit planning.

C.Strategic plans reflect the organization's business objectives and overall attitude toward risk.

D.Strategic plans are helpful to identify major areas of activity, which may direct the allocation of internal audit activity resources.

IIA-ACCA Exam Question 140

Forty-five percent of an organization's customer payments are submitted online. Eight percent of online payments are rejected. Executive management decides to outsource its online payment services to a contractor that will assume 75 percent of the total value of rejected payments. The organization estimates $1.25 million customer payments due during the contract period.
Which of the following represents the organization's residual risk for online customer payments due?

A.$33, 750

B.$11, 250

C.$45, 000

D.$25, 000

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IIA-ACCA Exam Question 136

IIA-ACCA Exam Question 137

IIA-ACCA Exam Question 138

IIA-ACCA Exam Question 139

IIA-ACCA Exam Question 140

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