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NEW QUESTION 32
B uses a balanced scorecard to monitor the performance of its divisions.
Classify each of the following decisions taken by a division’s management team as either commercially sound or dysfunctional.
Answer:
Explanation:
NEW QUESTION 33
E purchases parts for one of the machines it manufactures from Country X Place the risk classification next to the risk it relates to:
Answer:
Explanation:
NEW QUESTION 34
C is an accounts clerKwho is supposed to sign each invoice as evidence that she has conducted checks against supporting documents Sometimes C signs invoices without making these checks D is a member of the internal audit team He has been told to conduct compliance tests on whether C is checking the invoices property Which of the following would grve D a false sense of assurance that C’s checks have been in operation?
Select ALL that appry
- A. D examined a sample of invoices to make sure that they had been signed by C AH had been signed selected a sample of purchase invoices and compared each to the supporting documents that C is supposed to review Every one of D’s invoices was supported by the related documents
- B. D worked at a spare desk in the accounts department and quietly watched C without telling her She checked every invoice carefully while D was present
- C. asked C a series of open-ended questions about the operation of the purchases system She did not mention anything about detailed checks of invoices against documents
- D. D reviewed a sample of invoices for purchases of plant and equipment and found that C had not signed them C explained that she believed that those were authonsed by someone else although the accounts manual indicates that it was her responsibility
Answer: A,B,C
NEW QUESTION 35
Which of the following is NOT a financial risk.
- A. Sourcing raw materials overseas to manufacture goods.
- B. Global warming.
- C. Selling goods on credit terms.
- D. Taking out variable rate loans to finance short term investments.
Answer: B
NEW QUESTION 36
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