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  1. Home
  2. IIA Certification
  3. IIA-CIA-Part3 Exam
  4. IIA.IIA-CIA-Part3.v2025-01-02.q249 Dumps
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Question 81

The estimated demand for pretzels at the next home football game using an expected value approach is:

Correct Answer: B
The calculation using an expected value approach weights each possible sales volume by its probability. Thus, the estimated demand is 4,400 pretzels.
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Question 82

In a company, products pass through some or all of the production departments during
manufacturing, depending upon the product being manufactured. Direct material and dire] labor costs are traced directly to the products as they flow through each production department Manufacturing overhead is assigned in each department using separate departmental manufacturing overhead rates. The inventory costing method that the manufacturing company is using in this situation is:

Correct Answer: A
Absorption costing inventories all direct manufacturing costs and both variable and fixed manufacturing overhead indirect) costs.
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Question 83

The failure to record an accrued expense at year-end will result in which of the following overstatement errors in the financial statements prepared at that date?

Correct Answer: D
An accrued expense is an expense that has been incurred but not paid. The appropriate
adjusting entry to record an accrued expense will increase an expense account and increase a liability account. The failure to record an accrued expense will result in an understatement of expenses leading to an overstatement of profit. The failure to record the increase in a liability account will result in an understatement of current liabilities leading to an overstatement of working capital. There will be no effect on cash.
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Question 84

An internal auditor has been approved lo gather data directly horn the organization's relational database management system tor data analyse To collect the data which of the Wowing is most important for the auditor to know?

Correct Answer: D
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Question 85

A brand manager in a consumer food products organization suspected that several days of the point-of- sale data on the spreadsheet from one grocery chain were missing. The best approach for detecting missing rows in spreadsheet data would be to:

Correct Answer: B
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