Which of the following statements is true regarding reversing entries in an accounting cycled
A. Reversing all previous closing adjustments is a mandatory step in the accounting cycle
B. Reversing entries should be completed at the end of the next accounting period after recording regular transactions of the period
C. Reversing entries are identical to the adjusting entries made in the previous period.
D. Reversing entries are the exact opposite of the adjustments made in the previous period.
While reviewing the contracts for a large city, the internal auditor learns that the organization contracted to perform trash collection is paid based on the number of bins emptied each week as a result, the city has minimal control over payments Which of the following actions should the auditor recommend to give the city greater control over payments?
A. Change the contract so payment is based on the distances traveled by the contractor during collection.
B. Renegotiate a lump-sum contract when the contract is up for renewal
C. Assign a city employee to verify the number of bins emptied each day
D. Require that the contractor provide supervisory review of the number of bins emptied each day
The leadership of an organization encourages employees to form voluntary problem- solving groups whereby several employees from the same work area meet regularity during work hours to discuss improvements and creative ways to reduce costs. Which of the following best describes this approach?
A. Open-book management
B. Quality control circles
C. Self-managed teams
D. Cross-functional teams
Which of the following would be a risk in the development of end-user computing (EUC) applications, compared to traditional information systems?
A. Management might place the same degree of reliance in reports produced by EUC applications as it does in reports produced under traditional systems development procedures.
B. The organization may incur higher application development and maintenance costs for EUC systems.
C. Since development time is typically longer for EUC applications, management may not be able to respond quickly to competitive pressures
D. Management may not be able to make quick and accurate decisions due to a diminished capacity to respond to managerial requests for computerized information
When is an organic organizational structure likely to be more successful than a mechanistic organizational structure?
A. When a manufacturing organization has stable demand for its products.
B. When an organization is subjected to strong political and social pressures
C. When a manufacturer has reliable resources and suppliers
D. When an organization is infrequently affected by technological advances
A retail organization mistakenly did not include S10.000 of inventory in the physical count at the end of the year. What was the impact to the organization's financial statements?
A. Cost of sales and net income are understated
B. Cost of sales and net income are overstated
C. Cost of sales is understated and net income is overstated.
D. Cost of sales is overstated and net income is understated.
With regard to project management when of the following statements about prefect crashing is true?
A. It leads to an increase in risk and often results in rework
B. It is an optimization technique where activities are performed in parallel rather than sequentially
C. It involves a revaluation of protect requirements and/or scope.
D. It is a compression technique in which resources are added to the protect
An organization is experiencing a high turnover. Which of the following can human resources deploy to effectively detect the root cause of turnover?
A. Require regular performance appraisals
B. Perform exit interviews
C. Encourage periodic rotation of employee duties.
D. Ensure mandatory vacations
If a just-in-time purchasing system is successful in reducing the total inventory costs of a manufacturing company, which of the following combinations of cost changes would be most likely to occur?
A. 1
B. 2
C. 3
D. 4
Which of the following is a project planning methodology that involves a complex series ot required simulations to provide information about schedule risk?
A. Monte Carlo Analysis
B. Project Management Information System (PMIS)
C. Earned Value Management (EVM).
D. Integrated Project Plan A
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