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QUESTION 30
Company P paid US $600,000 for all of the outstand ordinary stock of Company S in a business combination initiated and completed initiated and completed in the current year.
At that time, Company S had the following condensed balance sheet.

The fair value of the plant and equipment was US $120,000 more than its carrying amount. The fair values and carrying amounts were equal for all other assets and liabilities. What amount of goodwill, related to Company S’s acquisition, should Company P report in its consolidated balance sheet?

QUESTION 31
Which of the following should software auditors do when reporting internal audit findings related to enterprisewide resource planning?

QUESTION 32
With increased cybersecurity threats, which of the following should management consider to ensure that there is strong security governance in place?

QUESTION 33
Which of the following IT controls includes protection for mainframe computers and workstations?

QUESTION 34
In an effort to increase business efficiencies and improve customer service offered to its major trading partners, management of a manufacturing and distribution company established a secure network, which provides a secure channel for electronic data interchange between the company and its partners. Which of the following network types is illustrated by this scenario?

QUESTION 35
Is PERT analysis a control tool or a planning tool?

QUESTION 36
A contingent asset is:

QUESTION 37
Which of the following statements is true regarding the resolution of interpersonal conflict?

QUESTION 38
Within an enterprise, IT governance relates to the:
1. Alignment between the enterprise’s IT long term plan and the organization’s objectives.
2. Organizational structures of the company that are designed to ensure that IT supports the organization’s strategies and objectives.
3. Operational plans established to support the IT strategies and objectives.
4. Role of the company’s leadership in ensuring IT supports the organization’s strategies and objectives.

QUESTION 39
Earnings-per-share data must be reported on the face of the income statement for:

QUESTION 40
If the average age of inventory is 60 days, the average age of the accounts payable is 30 days, and the average age of accounts receivable is 45 days, the number of days in the cash flow cycle is:

QUESTION 41
The economic order quantity Q is the size of the order that minimizes total inventory costs.
These costs, which are composed of ordering and holding costs, can be computed using the following expression:

The following inventory information is available for an organization:

If the organization decides to order 4.000 units at a time rather than 2.000 units by hour much will its total inventory costs change?

QUESTION 42
Which of the following statements is false regarding the internal audit approach when a set of standards other than The IIA’s Standards is applicable to a specific engagement?

QUESTION 43
Which of the following standards would be most useful in evaluating the performance of a customer-service group?

QUESTION 44
A real estate brokerage firm is moving into a building that is already equipped with extensive telephone wiring. The firm is considering the installation of a digital private branch exchange PBX) to connect computers and other office devices, such as copying machines, printers, and fax machines. A limitation of using a PBX-based system for this network is that:

QUESTION 45
The feasible solution region is bounded by the lines connecting points:

QUESTION 46
When management uses the absorption costing approach, fixed manufacturing overhead costs are classified as which of the following types of costs?