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  1. Home
  2. IIA Certification
  3. IIA-CIA-Part3 Exam
  4. IIA.IIA-CIA-Part3.v2023-01-15.q275 Dumps
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Question 136

An entity purchased a new machine for US $' III 610100 by borrowing the required funds from a bank for 180 days. What will be the direct impact of this transaction?

Correct Answer: A
The borrowing of funds for 180 days constitutes short-term borrowing. The new machine is a fixed asset. Current liabilities have increased, and current assets have remained constant. Consequently, the current ratio current assets + current liabilities) has decreased. Total debt and total assets increased by the same absolute amount, and the debt ratio total debt - total assets) should have increased. assuming total debt is less than total asset.
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Question 137

Which of the following statements is true regarding an investee that received a dividend distribution from an entity and is presumed to have little influence over the entity?

Correct Answer: D
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Question 138

A contractual arrangement that gives the owner the right to buy or sell an asset at a fixed price at any moment in time before or on a specified date is a(n):

Correct Answer: D
An American option is a contractual arrangement that gives the owner the right to buy or sell an asset at a fixed price at any moment in time before or on a specified date.
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Question 139

Which of the following represents a basis for consolidation under the International Financial Reporting Standards?

Correct Answer: A
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Question 140

A control that a company can use to detect forged EDI messages is to:

Correct Answer: A
If the company acknowledges messages initiated externally, the alleged sender will have the opportunity to recognize that it had not sent the message and will then be able to notify the company of the potential forgery. Then corrective action can be taken by the company.
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