An internal auditor found the following information while reviewing the monthly financial siatements for a wholesaler of safety

The cost of goods sold was reported at $8,500. Which of the following inventory methods was used to derive this value?

• A.Average cost method
• B.Activity-based costing method
• C.Specific identification method
• D.First-in, first-out (FIFO) method

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Which of the following costs are not relevant in a special-order decision?

• A.Incremental costs.
• B.Opportunity costs.
• C.Outlay costs.
• D.Sunk costs.

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Which of the following standards would be most useful in evaluating the performance of a customer-service group?

• A.All customer inquiries should be answered within seven days of receipt.
• B.Employees should maintain a positive attitude when dealing with customers.
• C.The average time per customer inquiry should be kept to a minimum.
• D.Customer complaints should be processed promptly.

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Which of the following are typical audit considerations for a review of authentication? 1.Authentication policies and evaluation of controls transactions.
2.Management of passwords, independent reconciliation, and audit trail.
3.Control self-assessment tools used by management.
4.Independent verification of data integrity and accuracy.

• A.1, 2, and 3
• B.2, 3, and 4
• C.1, 3, and 4
• D.1, 2, and 4

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Good planning will help an organization restore computer operations after a processing outage. Good recovery planning should ensure that:

• A.Backup/restart procedures have been built into job streams and programs.
• B.Change control procedures cannot be bypassed by operating personnel.
• C.Planned changes in equipment capacities are compatible with projected workloads.
• D.Service level agreements with owners of applications are documented.

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