Which of the following statements regarding organizational governance is not correct?

• A.Accountability is one of the key elements of organizational governance.
• B.Governance principles and the need for an internal audit function are applicable to governmental and not-for-profit activities.
• C.Those performing governance activities are accountable to the customer.
• D.An effective internal audit function is one of the four cornerstones of good governance.

Comment: *

Name: *

Email: *

Verification: *

All of the following are possible explanations for a significant unfavorable material efficiency variance except:

• A.A large number of rush orders.
• B.Production of more units than planned for in the master budget.
• C.Cutbacks in preventive maintenance.
• D.An inadequately trained and supervised labor force.

Comment: *

Name: *

Email: *

Verification: *

The average labor cost per unit for the first batch produced by a new process is US $120. The cumulative average labor cost after the second batch is US $72 per product. Using a batch size of 100 and assuming the learning curve continues, the total labor cost of four batches will be:

• A.US$4,320
• B.US$10,368
• C.US$2,592
• D.US$17,280

Comment: *

Name: *

Email: *

Verification: *

An internationally recognized brand name is an entrance barrier to new competitors because new competitors would:

• A.Face increased marketing costs.
• B.Face increased production costs.
• C.Have to initiate a price war in order to enter the industry.
• D.Face higher learning costs, which would increase fixed costs.

Comment: *

Name: *

Email: *

Verification: *

Which of the following would best prevent unauthorized external changes to an organization's data?

• A.Antivirus software, data encryption, change logs.
• B.Antivirus software, firewall, data encryption.
• C.Firewall, data encryption, backup procedures.
• D.Antivirus software, firewall, backup procedures.

Comment: *

Name: *

Email: *

Verification: *