Free Access to IIA.IIA-CIA-Part3.v2024-06-15.q282 with Valid Practice Test (Page 13)

Question 56

Which of the following conflict resolution methods should be applied when the intention of the parties is to solve the problem by clarifying differences and attaining everyone's objectives?

A.Compromising.
B.Competing.
C.Collaborating.
D.Accommodating.

Question 57

The use of message encryption software:

A.Guarantees the secrecy of data.
B.Requires manual distribution of keys.
C.Increases system overhead.
D.Reduces the need for periodic password changes.

Question 58

In accounting, which of the following statements is true regarding the terms debit and credit?

A.Credit indicates the right side of an account and debit the left side.
B.Debit means an increase in an account and credit means a decrease.
C.Credit means an increase in an account and debit means a decrease
D.Debit indicates the right side of an account and credit the left side

Question 59

On the last day of the year, a total cost of S 150.000 was incurred in indirect labor related to one of the key products an organization makes. How should the expense be reported on that year's financial statements?

A.It should be reported as period cost other than a product cost on the management accounts
B.It should be reported on the balance sheet as part of inventory.
C.It should be reported as cost of goods sold on the income statement.
D.It should be reported as an administrative expense on the income statement.

Question 60

An organization buys equity securities for trading purposes and sells them within a short time period. Which of the following is the correct way to value and report those securities at a financial statement date?

A.At fair value with changes reported in the shareholders' equity section.
B.At fair value with changes reported in net income.
C.At amortized cost in the income statement.
D.As current assets in the balance sheet

Question 56

Question 57

Question 58

Question 59

Question 60

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