Q1. An internal auditor is investigating a potential fraudulent activity. What is the first test the auditor should perform on the transaction data under scrutiny?
A.Digital analysis for statistically unlikely occurrences that may indicate system tampering.
B. Verification of the completeness and integrity of the obtained data.
C. Detailed review of the data contents to strategize the best analytical techniques.
D. Calculation of statistical parameters to identify outliers requiring further scrutiny.
Correct Answer: B
Q2. An organization requires an average of 58 days to convert raw materials into finished products to sell. An average of 42 additional days is required to collect receivables. If the organization takes an average of 10 days to pay for the raw materials, how long is its total cash conversion cycle?
A.26 days.
B. 90 days.
C. 100 days.
D. 110 days.
Correct Answer: B
Q3. Which of the following most accurately describes the purpose of application authentication controls?
A.To ensure that data input into business applications is valid, complete, and accurate.
B. To prevent or detect errors in data processed using business applications.
C. To ensure that business applications are protected from unauthorized logical access.
D. To ensure the validity, accuracy, and completeness of outputs from business applications.
Correct Answer: C
Q4. An organization requires an average of 58 days to convert raw materials into finished products to sell. An average of 42 additional days is required to collect receivables. If the organization takes an average of 10 days to pay for the raw materials, how long is its total cash conversion cycle?
A.26 days.
B. 90 days.
C. 100 days.
D. 110 days.
Correct Answer: B
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