Which of the following concepts of managerial accounting is focused on achieving a point of low or no inventory?

• A.Break-even analysis
• B.Theory of constraints.
• C.Just-in-time method.
• D.Activity-based costing.

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Which of the following is required in effective IT change management?

• A.Change management follows a consistent process and is done in a controlled environment.
• B.All changes to systems must be approved by the highest level of authority within an organization.
• C.The sole responsibility for change management is assigned to an experienced and competent IT team
• D.Internal audit participates in the implementation of change management throughout the organisation.

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A small company has changed from a system of recording time worked on clock cards to a computerized payroll system in which employees record time in and out with magnetic cards. The computer system automatically updates all payroll records. Because of this change,

• A.A generalized computer audit program must be used.
• B.Part of the audit trail is altered.
• C.The potential for payroll-related fraud is diminished. D Transactions must be processed in batches.

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Which of the following situations best applies to an organisation that uses a project, rather than a process, to accomplish its business activities?

• A.A manufacturing organization acquires component parts from a contracted vendor
• B.Clothing company designs, makes, and sells a new item.
• C.A city department sets up a new firefighter training program.
• D.A commercial construction company is hired to build a warehouse.

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Physical distribution is the moving of finished products to:

• A.Retail outlets.
• B.Shipping point.
• C.Consumers.
• D.Warehouses.

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