IIA IIA-CIA-PART3 LATEST TEST BRAINDUMPS & IIA-CIA-PART3 RELIABLE REAL EXAM

IIA IIA-CIA-Part3 Latest Test Braindumps & IIA-CIA-Part3 Reliable Real Exam

IIA IIA-CIA-Part3 Latest Test Braindumps & IIA-CIA-Part3 Reliable Real Exam

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If you want to advance in this fast-growing technological world, IIA IIA-CIA-Part3 certification is a must. Yet, the common problem the aspiring candidates undergo is seeking updated, authentic, and trustworthy IIA IIA-CIA-Part3 Dumps for the most cherished IIA-CIA-Part3 certification exam.

IIA-CIA-Part3 exam is a certification exam offered by the Institute of Internal Auditors (IIA). It is a part of the Certified Internal Auditor (CIA) certification program that is designed to enhance the knowledge and skills of internal auditors. The IIA-CIA-Part3 Exam focuses on business knowledge for internal auditing and is meant for individuals who want to improve their understanding of business operations and management.

What is the salary of the IIA CIA Part 3 Exam

The Average salary of different countries of IIA CIA Part 3 professionals:

  • INDIA: INR 6,12,072

  • UK: Pound 50,000

  • US: USD 75,903

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You can customize IIA-CIA-Part3 exam questions complexity levels and test duration during any attempt. Real IIA IIA-CIA-Part3 practice test questions like scenarios that the online test creates will enable you to control anxiety. Self-evaluation reports of the IIA-CIA-Part3 web-based practice test will inform you where you exactly stand before the final IIA IIA-CIA-Part3 test. IIA-CIA-Part3 Exam Questions in this IIA IIA-CIA-Part3 practice test are similar to the real test.

IIA-CIA-Part3 exam covers a wide range of topics, including financial management, operations management, risk management, and governance. It tests the candidate's knowledge of business processes, financial statements, internal controls, and risk management frameworks. IIA-CIA-Part3 Exam is designed to ensure that internal auditors have a deep understanding of the business environment and can effectively assess the risks and controls within an organization.

IIA Business Knowledge for Internal Auditing Sample Questions (Q56-Q61):

NEW QUESTION # 56
The major objectives of any budget system are to:

  • A. Define responsibility centers, facilitate the fixing of blame for missed budget predictions, and ensure goal congruence between superiors and subordinates.
  • B. Define responsibility centers, provide a framework for performance evaluation, and promote communication and coordination among organization segments.
  • C. Foster the planning of operations, facilitate the fixing of blame for missed budget predictions, and ensure goal congruence between superiors and subordinates.
  • D. Foster the planning of operations, provide a framework for performance evaluation, and promote communication and coordination among organization segments.

Answer: D

Explanation:
A budget is a realistic plan for the future expressed in quantitative terms. The process of budgeting forces a company to establish determine the resources necessary to achieve those goals, and anticipate future difficulties in their ache investment. A budget is also a control tool because it establishes standards and facilitates comparison of actual and budgeted performance. Because a budget establishes standards and accountability, it motivates d. =.d performance by highlighting the work of effective managers.
Moreover, the nature of the budgeting process fosters communications of goals to company subunits and coordination of their efforts. Budgeting activities by entities within the company must be coordinated because they are interdependent. Thus, the sales budget is a necessary input to the formulation of the production budget. In turn, production requirements must be known before purchases and expense budgets can be developed and all other budgets must be completed before preparation of the cash budget.


NEW QUESTION # 57
Before sending or receiving EDI messages, a company should:

  • A. Execute a trading partner agreement with each of its customers and suppliers.
  • B. Evaluate the effectiveness of its use of EDI transmissions.
  • C. Reduce inventory levels in anticipation of receiving shipments.
  • D. Demand that all its suppliers implement EDI capabilities.

Answer: A

Explanation:
Before sending or receiving EDI messages, a company should execute a trading partner agreement with its customers and suppliers. All parries should understand their responsibilities, the messages each will initiate, how they will interpret messages, the means of authenticating and verifying the completeness and accuracy of messages, the moment when the contract between the parries is effective, the [required level of security, etc.


NEW QUESTION # 58
Under IAS 2, Inventories all of the following should be decided when reporting inventories except:

  • A. The carrying amount of inventories in classifications appropriate to the entire.
  • B. The cost formulas used.
  • C. The use of the lower-of-cost-or-net-realizable-value method, if applicable.
  • D. An estimated amount of obsolete inventory included in the total inventory valuation.

Answer: D

Explanation:
According to IAS 2, Inventories, disclosures about inventories include, for example. The accounting policies applied in measuring inventories. including the cost formulas used, total carrying amount; carrying amount for each classification appropriate to the entity carrying amount of items carried at fair value minus costs to sell; amount of any reversal of write downs as income; reasons for such a reversal; and carrying amount of inventory pledged as security. Thus is disclosures under IAS 2 include the carrying amount of inventories carried at NRV, not the amount of ate inventory.


NEW QUESTION # 59
A cable television entity receives deposits from customers that are refunded when service is terminated. The average customer stays with the entity 8 years. How should these deposits be shown on the financial statements?

  • A. Liability.
  • B. Share capital.
  • C. Other revenue.
  • D. Operating revenue.

Answer: A

Explanation:
Liabilities are present obligations arising from past events, the settlement of which is expected to result in an outflow of resources embodying economic benefits. Customers' deposits must be returned or credited to their accounts. The deposits should therefore be recorded as liabilities.


NEW QUESTION # 60
Which of the following options correctly defines a transmission control protocol/Internet protocol (TCP/IP)?

  • A. System software that acts as an interface between a user and a computer.
  • B. A standardized set of guidelines that facilitates communication between computers on different networks.
  • C. A network of servers used to control a variety of mission-critical operations.
  • D. System software that translates hypertext markup language to allow users to view a remote webpage.

Answer: B


NEW QUESTION # 61
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