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  1. Home
  2. IIA Certification
  3. IIA-CIA-Part3 Exam
  4. IIA.IIA-CIA-Part3.v2025-10-13.q454 Dumps
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Question 21

An organization is considering outsourcing its IT services, and the internal auditor as assessing the related risks. The auditor grouped the related risks into three categories;
- Risks specific to the organization itself.
- Risks specific to the service provider.
- Risks shared by both the organization and the service provider
Which of the following risks should the auditor classify as specific to the service provider?

Correct Answer: A
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Question 22

What is RST's accounts receivable turnover for Year 6?

Correct Answer: A
The accounts receivable turnover equals net credit sales divided by average trade receivables net). In Year 6, the accounts receivable turned over 19 times {285.000 [(16,000 ending AIR + 14,000 beginning AIR) / 2]}.


The market value of RST's ordinary stock at the end of Year 6 was US $100.00 per share.
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Question 23

Which of the following would not impair the objectivity of internal auditor?

Correct Answer: C
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Question 24

The major distinction between the function-of-expense format for the income statement and the "condensed" format recognized under U.S. GAAP is the separation of:

Correct Answer: A
IRS 1 does not require a particular income statement format, although, at a minimum, certain line items must be presented. The nature-of-expense format for the income statement provides one grouping for income items and one for expense items, similar to the "single-step" format recognized under U.S. GAAP. The function-of-expense format, on the other hand, resembles the U.S. GRAP "condensed" format except in one crucial respect: Under U.S. GAAP, other income and expenses must be reported in a separate section after income from operations.
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Question 25

In a process-costing system, the cost of abnormal spoilage should be:

Correct Answer: C
Abnormal spoilage is spoilage that is not expected to occur under normal, efficient operating conditions. Because of its unusual nature, abnormal spoilage is typically treated as a loss in the period in which it is incurred. Believing that its traditional cost system may be providing misleading information, an organization is considering an activity-based costing ABC) approach. It now employs a full cost system and has been applying its manufacturing overhead on the basis of machine hours. The organization plans on using
50.000 direct labor hours and 30.000 machine hours in the coming year. The following data show the manufacturing overhead that is budgeted.

Cost, sales, and production data for one of the organization' s products for the coming year are as follows:
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