| Exam Name: | Business Knowledge for Internal Auditing | ||
| Exam Code: | IIA-CIA-Part3 Dumps | ||
| Vendor: | IIA | Certification: | CIA |
| Questions: | 416 Q&A's | Shared By: | matthias |
Which of the following statements is true regarding the management-by-objectives method?
An internal auditor was asked to review an equal equity partnership, in one sampled transaction. Partner A transferred equipment into the partnership with a Self-declared value of 510 ,000, and Partner B contributed equipment with a self-declared value of 515,000. The capital accounts reach partner were subsequently credited with $12,500. Which of the following statements Is true regarding this transection?
An organization requires an average of 5S days to convert raw materials into finished products to sell. An average of 42 additional days is required to collect receivables. If the organization takes an average of 10 days to pay for the raw materials, how long is its total cash conversion cycle?
An organization's account for office supplies on hand had a balance of $9,000 at the end of year one. During year two. The organization recorded an expense of $45,000 for purchasing office supplies. At the end of year two. a physical count determined that the organization has $11 ,500 in office supplies on hand. Based on this Information, what would he recorded in the adjusting entry an the end of year two?
TESTED 28 Feb 2025
