IIA-ACCA Exam Practice Test Instant Access

Question 1

An organization's account for office supplies on hand had a balance of S9,000 at the end of year one. During year two. the organization recorded an expense of $45,000 for purchasing office supplies. At the end of year two. a physical count determined that the organization has $11,500 in office supplies on hand. Based on this information, what would be recorded in the adjusting entry at the end of year two?

AA debit to office supplies on hand for S2.500

BA debit to office supplies on hand for $11,500

CA debit to office supplies on hand for S20.500

DA debit to office supplies on hand for S42.500

Answer : A

Question 2

Which of the following characteristics is most important specifically for a global manager to possess in order to be successful?

AKnowledge of different languages.

BUnderstanding of uncertainty avoidance differences

CEmotional intelligence

DCultural intelligence

Answer : D

Question 3

Which of the following statements is most accurate with respect to various forms, elements, and characteristics of business contracts?

AA contract is a tool used by both suppliers and customers, the model and complexity of which generally remains constant

BCollaboration during contract negotiation encourages stakeholders to develop consensus but typically increases cycle times and the likelihood that the contract will fail

CDiffering legal requirements affect the attitudes of contracting parties as well as the length content and language of contracts

DA contract is a tool used by both suppliers and customers though it offers commercial assurance of the relationship, purely from a customer perspective

Answer : C

Question 4

Which of the following stages of contracting focuses on aligning the markets with objectives of the organization?

AInitiation stage

BBidding stage

CDevelopment stage

DNegotiation stage

Answer : D

Question 5

Which of the following is a primary objective of the theory of constraints?

AFull or near capacity in processes.

BSmooth workflow among processes.

CFew or no defects.

DLowered inventory levels.

Answer : A

Question 6

Which of the following application controls checks the integrity of data entered into a business application?

AInput controls.

BOutput controls

CProcessing controls

DIntegrity controls

Answer : A

Question 7

An organization has instituted a bring-your-own-device (BYOD) work environment Which of the following policies best addresses the increased risk to the organization's network incurred by this environment?

ALimit the use of the employee devices for personal use to mitigate the risk of exposure to organizational data.

BEnsure that relevant access to key applications is strictly controlled through an approval and review process

CInstitute detection and authentication controls for all devices used for network connectivity and data storage

DUse management software to scan and then prompt patch reminders when devices connect to the network

Answer : D

IIA-ACCA ACCA CIA Challenge Exam Practice Test