Which of the following control techniques would minimize the risk of interception during transmission in an electronic data interchange system?
1) Encryption.
2) Traffic padding.
3) Edit checks.
4) Structured data format.

• A.3 and 4 only
• B.1, 2, and 3 only
• C.1 and 2 only
• D.2 and 3 only

Comment: *

Name: *

Email: *

Verification: *

All of the following are true with regard to the first-in, first-out inventory valuation method except:

• A.It generates the highest profit when prices are rising.
• B.It values inventory close to current replacement cost.
• C.It minimizes current-period income taxes.
• D.It approximates the physical flow of goods.

Comment: *

Name: *

Email: *

Verification: *

Which of the following statements is true regarding partnership liquidation?

• A.When a partnership is liquidated, each partner pays creditors from cash received
• B.Operations can continue after the liquidation if all partners agree
• C.Partnership liquidation occurs when there is capital deficiency Stable
• D.Partnership liquidation ends both the legal and economic life of an entity

Comment: *

Name: *

Email: *

Verification: *

Which of the following statements about COBIT is not true?

• A.COBIT control objectives are specific to various IT platforms and help determine minimum controls.
• B.COBIT provides management with the capability to conduct self-assessments against industry best practices.
• C.COBIT helps management understand and manage the risks associated with information technology (IT) processes.
• D.Management needs to determine the cost-benefit ratio of adopting COBIT control objectives.

Comment: *

Name: *

Email: *

Verification: *

According to IIA guidance, which of the following would be a primary reason for an internal auditor to test the organization's IT contingency plan?

• A.To ensure that adequate controls exist to prevent any significant business interruptions.
• B.To ensure that tests contribute to improvement of the program.
• C.To ensure that deficiencies identified by the audit are promptly addressed.
• D.To identify and address potential security weaknesses within the system.

Comment: *

Name: *

Email: *

Verification: *