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Free IIA CIA Exam Braindumps (page: 55)

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PDF with 1702 Questions

The top three sales representatives for a company consistently include non-allowable charges on their expense reports. Line management is reluctant to deny reimbursement of the charges for fear of losing the sales representatives. This situation has the greatest negative impact on which of the following internal control components?

  1. Monitoring.
  2. Control environment.
  3. Information and communication.
  4. Control activities.

Answer(s): B



According to the International Professional Practices Framework, risk is

I). Defined as the negative effect of events that are expected to occur.
II). Measured in terms of consequences.
III). Measured in terms of likelihood.

  1. I only.
  2. I and II only.
  3. II and III only.
  4. I, II, and III.

Answer(s): C



Which of the following should be incorporated in a risk management policy?

I). Boundaries and limit structures.
II). Requirements for reporting risk.
III). Risk authorities.

  1. I and II only.
  2. I and III only.
  3. II and III only.
  4. I, II, and III.

Answer(s): D



A high-volume retailer of consumer goods has used point-of-sale data to record sales and update inventory records for several years. When price changes are scheduled, corporate headquarters downloads a price change file to a computer server system at each store. Each store's assistant manager is responsible for checking the server for downloads and running the program that updates the store's price file at the authorized price update time. In comparison with having headquarters initiate the price update centrally, this approach to price updating will most likely

  1. Decrease the risk that customers will be undercharged consistently for sales items.
  2. Decrease the risk that item prices will sometimes be inaccurate.
  3. Increase the risk that customers will be undercharged consistently for sales items.
  4. Increase the risk that item prices will sometimes be inaccurate.

Answer(s): D






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