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Free IIA-ACCA Questions Attempt

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Question 60

According to IIA guidance, which of the following is true regarding audit supervision?

1. Supervision should be performed throughout the planning, examination, evaluation, communication, and follow-up stages of the audit engagement.

2. Supervision should extend to training, time reporting, and expense control, as well as administrative matters.

3. Supervision should include review of engagement workpapers, with documented evidence of the review.

Options:

A.

1 and 2 only

B.

1 and 3 only

C.

2 and 3 only

D.

1, 2, and 3

Question 61

Which of the following borrowing options is an unsecured loan?

Options:

A.

Second-mortgage financing from a bank.

B.

An issue of commercial paper.

C.

Pledged accounts receivable.

D.

Asset-based financing.

Question 62

Which of the following is the best reason for considering the acquisition of a nondomestic organization?

Options:

A.

Relatively fast market entry.

B.

Improved cash flow of the acquiring organization.

C.

Increased diversity of corporate culture.

D.

Opportunity to influence local government policy.

Question 63

Which of the following factors is considered a disadvantage of vertical integration?

Options:

A.

It may reduce the flexibility to change partners.

B.

It may not reduce the bargaining power of suppliers.

C.

It may limit the organization's ability to differentiate the product.

D.

It may lead to limited control of proprietary knowledge.

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Exam Code: IIA-ACCA
Exam Name: ACCA CIA Challenge Exam
Last Update: May 1, 2024
Questions: 604
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