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  1. Home
  2. IIA Certification
  3. IIA-CIA-Part3 Exam
  4. IIA.IIA-CIA-Part3.v2022-03-14.q256 Dumps
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Question 106

Quality control circles are now used all over the world. The circles typically consist of a group of five to ten employees who meet regularly. The primary goal of these circles is:

Correct Answer: B
Quality control circles are used to obtain voluntary input from employees to promote problem solving. Potential benefits include lower costs, better employer-employee relations, and greater employee commitment.
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Question 107

Activity scheduling information for the installation of a new computer system is given below

The earliest completion time for the project is:

Correct Answer: C
The critical path is the longest path because it defines the minimum duration of the project. A-D-E 4 + 6 + 5 = 15) is the critical path.
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Question 108

A sound justification for an entity's repurchase of its own shares e.g. treasury shares) is to:

Correct Answer: D
An entity has many reasons to repurchase its own shares. These include meeting the needs created by potential mergers or pension and profit-sharing plans. Also, management may want to buy out a dissident shareholder. Sometimes, an entity has excess cash and can find no better investment than its own shares. Moreover, management may believe the shares are selling for a low price for no apparent reason. Thus, a purchase may not only be a good investment but may also support the market price of the shares.
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Question 109

What ensures that an entity is complying with the documented quality management system (QMS) procedures and ISO 9000 standards?

Correct Answer: A
An important requirement of the ISO 9000 standards is an internal audit system. Internal audits ensure that the entity is complying with the documented QMS procedures and ISO 9000 standards.
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Question 110

When the economic order quantity EOQ) decision model is employed, the List A are being offset or balanced

Correct Answer: A
The objective of the EOQ model is to find an optimal order quantity that balances carrying and ordering costs. Only variable costs should be considered. The EOQ is the point where the ordering cost and carrying cost curves intersect. It corresponds to the minimum point on the total inventory cost curve.
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