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NEW QUESTION: 1
Your company will procure finished goods from a supplier. The supplier will manufacture the product using components shipped from your company. Which process would you use for this scenario?
Please choose the correct answer.
A. Subcontracting
B. Standard procurement
C. Third-party procurement
D. External processing
Answer: A
NEW QUESTION: 2
The internal audit activity of an organization obtained approval to add a senior auditor to its staff. The chief audit executive, audit manager, and audit supervisor each will interview the candidates. According to the Standards, which of the following best explains the involvement of management in the interview process?
A. Allows audit management to explain the criteria that will be used to evaluate the senior auditor's performance.
B. Enables audit management to outline its quality assurance and improvement program with the senior auditor.
C. Assists audit management in planning by more effectively allocating the senior auditor to appropriate audits.
D. Provides audit management with the opportunity to communicate expectations regarding ethical behavior standards.
Answer: C
NEW QUESTION: 3
I could never be blamed because the matter was discussed beyond my back. I had no say in it.
A. was discussed beyond my back
B. was discussed below my back
C. was discussed between my back
D. was discussed beneath my back
E. was discussed behind my back
Answer: E
Explanation:
Explanation/Reference:
Explanation:
NEW QUESTION: 4
During 1990, Mason Company's current assets increased by $120, current liabilities decreased by $50,
and net working capital:
A. Decreased by $70.
B. Increased by $170.
C. Increased by $70.
D. Decreased by $170.
Answer: B
Explanation:
Choice "c" is correct. Net working capital is the difference between current assets and current liabilities.
Because current assets went up $120 and current liabilities down by $50, the net effect is an increase in
net working capital of $170.
Therefore, working capital has increased $170,000.
Choices "a", "b", and "d" are incorrect, per the above calculation.