Exam Code: IIA-IAP
Exam Name: Internal Audit Practitioner
Version: V13.25
Q & A: 72 Questions and Answers
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NEW QUESTION: 1
Which of the following is a typical challenge for a sales organization? (Select all that apply)
A. Improving sales rep productivity
B. Complete visibility
C. Drivingmore business
D. Poor customer satisfaction
E. Optimizing lead management
Answer: A,B,E
NEW QUESTION: 2
Bungling, Inc., is currently facing a lawsuit as a defendant. Its honest lawyers estimate that there is a 60-40 chance that Bungling will lose the lawsuit. The jury could award the plaintiff punitive damages ranging from
$10,000 to $50,000. Bungling should
A. not recognize any liability but disclose the details in footnotes.
B. not do anything since the lawsuit is still not decided and considerable uncertainty exists.
C. recognize a liability of $50,000 on its balance sheet as a conservative estimate.
D. recognize a liability of $10,000 on its balance sheet.
Answer: A
Explanation:
Explanation/Reference:
Explanation:
If considerable uncertainty exists in measurement of an asset or a liability arising from events like a lawsuit, disclosure must occur in footnotes. The disclosure includes the nature of the contingency and an estimate or a range of estimates about the possible losses.
NEW QUESTION: 3
Which performance feature is provided by the Hitachi Unified Storage systems controller architecture?
A. automatic cache segment resizing
B. automatic front-end storage group load balancing
C. automatic controller load balancing
D. automatic front-end port hardware load balancing
Answer: C
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