Reference no: EM132679251
Problem 1: Which of the following is included within the audit planning?
A. Assess reliability of information
B. Present audit results to management
C. Develop knowledge of business operations
D. None of the above
Problem 2: Which of the following are excluded from the IIA's audit scope standards?
A. Examine company resources to determine how effectively they are utilized.
B. Review the general and application controls in an AIS to assess its compliance with internal control policies and procedures.
C. Review company operations and programs to determine whether they are being carried out as planned and whether they are meeting their objectives.
D. Determine whether the systems designed to comply with operating and reporting policies, plans, procedures, laws, and regulations are actually being followed.
Problem 3: What is the general ledger account corresponding to a subsidiary ledger called?
A. Chart of account
B. Control account
C. Individual account
D. None of the above
Problem 4: What is the value of information?
A. It is data that has been organized and processed so that it is meaningful.
B. It is the integration of financial data and other nonfinancial operating data.
C. It is the benefit produced by the information minus the cost of producing it.
D. It is a set of two or more interrelated components that interact to achieve a goal.
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