VERIFIED IIA IIA-CIA-PART3 LATEST STUDY QUESTIONS & THE BEST VALIDTORRENT - LEADER IN CERTIFICATION EXAM MATERIALS

Verified IIA IIA-CIA-Part3 Latest Study Questions & The Best ValidTorrent - Leader in Certification Exam Materials

Verified IIA IIA-CIA-Part3 Latest Study Questions & The Best ValidTorrent - Leader in Certification Exam Materials

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IIA-CIA-Part3 certification exam is highly valued by employers as it demonstrates a candidate's ability to apply business concepts to the internal audit process. Holding this certification can help internal auditors advance their careers and increase their earning potential. It also demonstrates a commitment to professional development and a willingness to stay up-to-date with industry trends and best practices.

>> IIA-CIA-Part3 Latest Study Questions <<

Trustworthy IIA IIA-CIA-Part3 Pdf - Valid IIA-CIA-Part3 Test Syllabus

All the given practice questions in the desktop software are identical to the Business Knowledge for Internal Auditing (IIA-CIA-Part3) actual test. Windows computers support the desktop practice test software. ValidTorrent has a complete support team to fix issues of IIA IIA-CIA-Part3 PDF QUESTIONS software users. ValidTorrent practice tests (desktop and web-based) produce score report at the end of each attempt. So, that users get awareness of their Business Knowledge for Internal Auditing (IIA-CIA-Part3) preparation status and remove their mistakes.

IIA-CIA-Part3 exam is a critical component of the CIA certification process, as it evaluates the candidate's ability to apply business knowledge and principles to internal auditing practices. IIA-CIA-Part3 exam covers a broad range of topics, including organizational structure, financial and managerial accounting, economics, statistics, risk management, and governance principles. IIA-CIA-Part3 Exam aims to assess the candidate's understanding of how these concepts and principles relate to the role of internal auditing in an organization.

IIA Business Knowledge for Internal Auditing Sample Questions (Q340-Q345):

NEW QUESTION # 340
When reviewing application controls using the four-level model, which of the following processes are associated with level 4 of the business process method?

  • A. Subprocess
  • B. Activity
  • C. Mega process
  • D. Major process

Answer: B


NEW QUESTION # 341
What is the number of production runs per year of computer chairs that would minimize the sum of carrying and setup costs for the coming year?

  • A. 0
  • B. 1
  • C. 2
  • D. 3

Answer: A

Explanation:
The EOQ minimizes the sum of carrying and setup costs. The EOQ is the amount at which carrying costs are equal to setup casts. Thus, plugging the data into the EOQ formula results in the following: C:Documents and Settingsusernwz1Desktop1.PNG

Thus, if each lot consists of 1,000 units, five production runs per year are needed to meet the 5,000-unit demand. At this level, setup costs will total US $5,000 5 x $1,000). Carrying costs will also equal US $5,000 10 per unit carrying cost average inventory of 500 units).
Accordingly, total costs are minimized at US $10,000. Jed Ryerson Computer Furniture, Inc. RCF) manufactures a line of office computer chairs. The annual demand for the chairs is estimated to be 5,000 units. The annual cost tic. hold one unit in inventory is US $10 per year, and the cost to initiate a production run is US $1,000. There are no computer chairs on hand, and RCF has scheduled four equal production runs of computer chairs for the coming year, the first of which is to be run immediately. RCF has 250 business days per year, sales occur uniformly throughout the year, and production start-up is within one day. RCF is considering using the following formula for determining the economic order quantity EOQ):

If: A = cast to initiate a production run per purchase order D = annual unit demand K = cost of carrying one unit per year


NEW QUESTION # 342
All of the following are objectives of pricing except:

  • A. Production maximization.
  • B. Profit maximization.
  • C. Image oriented objectives.
  • D. Stabilization.

Answer: A

Explanation:
Pricing objectives include>
1.Profit maximization, which assumes that all firms select the price that results in the highest profit
2.Target margin maximization, which is stated as a percentage ratio of profits to sales
3.Volume-oriented objectives, which refers to setting prices to meet target sales volumes or market shares.
4.image oriented objectives, which refers to setting prices to enhance the consumer's perception of the firm's merchandise mix
5.Stabilization objectives, which refers to setting prices to maintain a stable relationship between the firm's prices and the industry leader's prices Price setting is not a factor in maximizing production.


NEW QUESTION # 343
Which of the following information security controls has the primary function of preventing unauthorized outside users from accessing an organization's data through the organization's network?

  • A. Encryption.
  • B. Firewall.
  • C. Antivirus.
  • D. Biometrics.

Answer: A


NEW QUESTION # 344
An internal auditor is using data analytics to focus on high-risk areas during an engagement. The auditor has obtained data and is working to eliminate redundancies in the data. Which of the following statements is true regarding this scenario?

  • A. The auditor is normalizing data in preparation for analyzing it.
  • B. The auditor is analyzing the data in preparation for communicating the results.
  • C. The auditor is cleaning the data in preparation for determining which processes may be involved.
  • D. The auditor is reviewing the data prior to defining the question.

Answer: C

Explanation:
Comprehensive and Detailed In-Depth Explanation:
In data analytics, data cleaning involves identifying and correcting errors, inconsistencies, and redundancies in the dataset to ensure accuracy and reliability. By eliminating duplicate or irrelevant data, the internal auditor enhances the quality of the dataset, which is crucial for accurate analysis and risk assessment. This process is a preparatory step before analyzing the data to identify high-risk areas. Normalization (option A) refers to organizing data to reduce redundancy but is more specific to database design. Analyzing data (option B) and reviewing data prior to defining the question (option D) are steps that occur before and after data cleaning, respectively.


NEW QUESTION # 345
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