Biometric authorization is the most effective control listed for restricting access to secure areas because it authenticates users based on unique physical characteristics, such as fingerprints, retina patterns, facial geometry, or hand geometry. It is stronger than a policy because it directly prevents unauthorized access.
Access log reviews are detective; they identify access after it occurs rather than restricting it at the point of entry. Security cameras are also primarily detective or deterrent controls. A security policy is necessary, but it does not physically stop unauthorized entry. Internal auditors reviewing secure areas should evaluate whether physical access is limited, logged, reviewed, revoked timely, and appropriate to the sensitivity of assets protected. Therefore, Option C is correct.

The main purpose of internal control is to provide reasonable assurance that organizational objectives will be achieved. Those objectives generally relate to operations, reporting, compliance, safeguarding of assets, efficiency, effectiveness, and reliability of information. Options A, B, and C are valid control objectives, but each is only one component of the broader internal control purpose. Compliance with policies, safeguarding resources, and reliable information all support objective achievement, but none is complete by itself. Internal control does not provide absolute assurance because limitations exist, including human error, collusion, management override, cost-benefit constraints, and changing conditions. Internal audit evaluates whether controls are suitably designed and operating effectively to reduce risks to acceptable levels. Therefore, the broadest and most accurate answer is Option D: reasonable assurance on achievement of objectives.

According to IIA guidance, if a nonconformance occurs, the CAE must evaluate its impact on the overall scope and operations of the internal audit activity. If the deficiency materially affects internal audit's overall ability to fulfill its responsibilities, conformance cannot be claimed. If the impact is limited, conformance may still be declared with appropriate disclosure.
Options A and B assume automatic conformance without evaluation. Option C is incorrect because there is no concept of "partial conformance" under the Standards.
Reference:
IIA Standards - Standard 1321: Use of "Conforms with the Standards."

The annual depreciation is ($320,000 # $40,000) ÷ 4 = $70,000. Annual savings after tax are $150,000 × 70%
= $105,000. The depreciation tax shield is $70,000 × 30% = $21,000. Therefore, annual after-tax cash flow is
$126,000. The sum of the present value factors is 0.87 + 0.76 + 0.66 + 0.57 = 2.86. Present value of annual cash flows is $126,000 × 2.86 = $360,360. The residual value present value is $40,000 × 0.57 = $22,800.
Total present value is $383,160. Less the initial $320,000 investment, net present value is $63,160. Therefore, Option B is correct.

At the end of an accounting period, certain accounts must be closed to prepare financial statements and reset balances for the next period. The accounts that must be closed are temporary accounts, which include all income statement accounts (revenues, expenses, and gains/losses).
Why Option A (Income statement accounts) is Correct:
Income statement accounts (revenues, expenses, gains, and losses) are temporary accounts that track financial performance for a specific period.
At the end of the period, these accounts are closed to the retained earnings account to reset them to zero for the next period.
Why Other Options Are Incorrect:
Option B (Balance sheet accounts):
Incorrect because balance sheet accounts (assets, liabilities, and equity) are permanent accounts that carry their balances forward to the next period.
Option C (Permanent accounts):
Incorrect because permanent accounts include all balance sheet accounts, which are never closed.
Option D (Real accounts):
Incorrect because real accounts refer to balance sheet accounts (assets, liabilities, and equity), which remain open.
IIA GTAG - " Auditing Financial Close Processes " : Discusses the closing of temporary accounts at the period end.
COSO Internal Control - Integrated Framework: Recommends proper financial reporting controls, including account closures.
IFRS & GAAP Accounting Standards: Define temporary and permanent accounts in financial reporting.
IIA References:Thus, the correct answer is A. Income statement accounts.