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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 326

In the determination of cost of goods sold, <List A> must be <List B> cash payments for goods along with other adjustments.

Correct Answer: A
To convert from the cash basis cash payments) to the accrual basis cost of goods sold), an accounts payable must be added to cash payments for goods to determine net purchases.
Net purchases is then adjusted for the change in inventory to determine cost of goods sold.
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Question 327

Company A is a producer of citrus flavored dessert products. Its most popular product is its key, lime pies, which are made with many fine ingredients, including egg yolks. Company A also sells the egg whites that are left over from its production process. These egg whites are sold at any price that is greater than the cost of storing and delivering them. What is the pricing of the egg whites?

Correct Answer: A
By-product pricing usually sots prices at any amount in excess of storing and delivering byproducts.
Such prices allow the seller to reduce the costs and therefore the prices of the main products.
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Question 328

According to MA guidance on IT. which of the following best describes a logical access control?

Correct Answer: D
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Question 329

The marketing department of a company is deciding on the price to charge for a key product. In setting this price, marketing needs to consider the price that a major competitor will charge for a similar product because the competitor's price will affect the demand for the company's product. Similarly, in setting its price, the competitor will consider what the company will charge. What is an appropriate mathematical technique for analyzing such a decision?

Correct Answer: A
Game (or decision) theory is a mathematical approach to decision making when confronted with an enemy or competitor. Games are classified according to the number of players and the algebraic sum of the payoffs. In a two-person game, if the payoff is given by the loser to the winner, the algebraic sum is zero and the game is called a zero-sum game. If it is possible for both players to profit, however, the game is a positive-sum game. Mathematical models have been developed to select optimal strategies for certain simple games.
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Question 330

Which of the following statements is correct regarding corporate compensation systems and related bonuses?
1.A bonus system should be considered part of the control environment of an organization and should be considered in formulating a report on internal control.
2.Compensation systems are not part of an organization's control system and should not be reported as such.
3.An audit of an organization's compensation system should be performed independently of an audit of the control system over other functions that impact corporate bonuses.

Correct Answer: C
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