Free IIA-CIA-Part2 Exam Braindumps (page: 27)

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Which of the following would be the best audit procedure to use to determine if a division's unusually high sales and gross margin for November and December were the result of fraudulently recorded sales?

  1. Trace a sample of shipping documents to related sales invoices to verify proper billing.
  2. Confirm accounts receivable balances with customers.
  3. Compare sales and gross margin totals with those of the previous ten months and the first month of the following year.
  4. Use regression analysis techniques to estimate the sales and cost of goods sold for November and December.

Answer(s): B



Which of the following factors could interfere with effective problem solving by an internal auditor?

  1. Reacting to previous experiences with clients.
    II. Focusing only on the most likely cause.
    III. Correcting the symptoms of problems.
  2. I only
  3. III only
  4. I and II only
  5. I, II, and III

Answer(s): D



A company owns a machine that will produce 100 light switches in four hours. Due to increased demand, a second machine capable of producing 100 light switches in three hours has been added.
Approximately how many hours will it take to produce 100 light switches using both machines working together?

  1. 7.0
  2. 3.5
  3. 1.7
  4. 0.58

Answer(s): C



A retail sales company has discontinued a product that normally sold for $100. During the first month of a sale of the product, a 20 percent discount was given. Later that sale price was reduced by an additional 40 percent. What was the overall discount from the original selling price?

  1. 60 percent.
  2. 52 percent.
  3. 48 percent.
  4. 30 percent.

Answer(s): B



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NOOR commented on October 06, 2024
I want to pass my CIA Exam P2 withing the next 2weeks, can I get help?
UNITED ARAB EMIRATES
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ET commented on August 19, 2024
I have just failed my CIA 2 second attempt today. May I have any assistance from you guys?
Anonymous
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