Which ONE of the following is an asset?
Answer(s): A
CORRECT TEXTRefer to the Exhibit.The following information is available relating to the non-current assets of Company X:Non-current assets that had originally cost $225,000 and had a carrying value of $105,000 were sold during the year.The figure for purchases of non-current assets to be shown in the statement of cash flows will be, to the nearest $1,000:
CORRECT TEXT IS: $523000
As well as independence other essential elements of internal audit can be identified.Which THREE of the following would be classed as essential elements of internal audit?
Answer(s): A,B,E
Refer to the Exhibit.The following information is given at a manufacturer's year end:Using some or all of the above figures, the correct figure for factory cost of goods completed is:
Answer(s): C
A company purchases a piece of machinery for $180,000. It is estimated that the machinery will produce 450,000 units over its useful life of 10 years. The residual value at the end of 10 years is nil. After eight years, the machine has produced 340,000 units and is sold for $30,000.The profit/loss arising on disposal of the asset is
Answer(s): B
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answer to this question "what administrative safeguards should be implemented to protect the collected data while in use by manasa and her product management team? " it should be (c) for the following reasons: this administrative safeguard involves controlling access to collected data by ensuring that only individuals who need the data for their job responsibilities have access to it. this helps minimize the risk of unauthorized access and potential misuse of sensitive information. while other options such as (a) documenting data flows and (b) conducting a privacy impact assessment (pia) are important steps in data protection, implementing a "need to know" access policy directly addresses the issue of protecting data while in use by limiting access to those who require it for legitimate purposes. (d) is not directly related to safeguarding data during use; it focuses on data transfers and location.
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