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| Section | Objectives |
|---|---|
| Financial Management | - Budgeting and cost control - Financial statements and reporting basics - Managerial accounting concepts |
| Business Acumen and Global Business Environment | - Organizational structure and business processes - Business strategies and objectives alignment - Global business environment and market influences |
| Information Technology and Business Systems | - System development lifecycle concepts - IT controls and cybersecurity fundamentals - Information systems and data governance |
| Risk Management and Regulatory Environment | - Compliance and regulatory frameworks - Enterprise risk management (ERM) principles - Internal controls and governance concepts |
| Information Security and Business Continuity | - Information security management principles - Business continuity and disaster recovery - Data protection and privacy considerations |
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NEW QUESTION # 139
The four components of time series data are secular trend, cyclical variation, seasonality, and random variation. The seasonality in the data can be removed by:
Answer: C
Explanation:
Time series analysis relies on past experience. Changes in the value of a variable may have several possible components including secular trends, cyclical variation, seasonality, and random variation. Seasonal variations are common in many businesses. A variety of methods exist for including seasonal variations in a forecasting model, but most methods use a seasonal index. Alternatively, seasonal variations can be removed from data by using a weighted average of several time periods instead of data from individual periods.
NEW QUESTION # 140
For the year just ended, the entity had a rate of return on equity, rounded to two decimals, of:
Answer: B
Explanation:
Rate of return on equity, a profitability ratio, measures the rate of return on investment.
The ratio equals profit minus any preference dividends) divided by average ordinary equity.
NEW QUESTION # 141
A company} is formulating its plans for the coming year, including the preparation of its cash budget. Historically, 30% of the company's sales are cash sales. The remaining 70% are credit sales with the following collection pattern.
Sales for the first five months of the coming year are forecast as follows.
For the month of April, the total cash receipts from sales and collections on account would be:
Answer: A
Explanation:
The cash receipts for April equal April's cash sales US $4,000,000 x 30% = US $1,200,000), 40% of April's credit sales, and 580/o of March's credit sales. Consequently, total cash receipts equal US $3, 78-1,600 [$1,200,000 + $4,000,000 40%x 70%) + $8,600,000 68% 70%)].A bank has two drive-in lanes to serve customers: one attached to the bank itself and one on an island. One teller serves bath stations. The bank is interested in determining the average waiting times of customers and has developed a model based on random numbers. The two key factors are the time between successive car arrivals and the time customers wait in line. Assume that the analysis begins with cars just arriving at bath service windows. bath requiring 3 minutes of service time. Car 1 is the attached window attached to the bank unless that window has more cars waiting than the island window. The lone teller will always serve the car that arrived first. If two cars arrive simultaneously, the one at the attached window will be served before the one at the island.
NEW QUESTION # 142
Which of the following are likely indicators of ineffective change management?
* IT management is unable to predict how a change will impact interdependent systems or business processes.
* There have been significant increases in trouble calls or in support hours logged by programmers.
* There is a lack of turnover in the systems support and business analyst development groups.
* Emergency changes that bypass the normal control process frequently are deemed necessary.
Answer: C
Explanation:
Ineffective change management is indicated by poor impact analysis, increased production issues, and frequent emergency changes. If IT management cannot predict how changes affect interdependent systems or business processes, change risk assessment is weak. Increased trouble calls or programmer support hours suggest changes are causing defects, instability, or user disruption. Frequent emergency changes that bypass normal controls indicate inadequate planning, testing, or release management. A lack of turnover in systems support and business analyst groups is not a negative indicator; stability may actually support institutional knowledge. Internal auditors reviewing change management should evaluate authorization, testing, segregation of duties, migration controls, emergency change approval, backout plans, and post- implementation review. Therefore, items 1, 2, and 4 are correct, making Option C the answer.
NEW QUESTION # 143
Which of the following statements is in accordance with COBIT?
* Pervasive controls are general while detailed controls are specific.
* Application controls are a subset of pervasive controls.
* Implementation of software is a type of pervasive control.
* Disaster recovery planning is a type of detailed control.
Answer: C
Explanation:
In COBIT-related control concepts, pervasive controls are broad, general controls that affect the overall IT environment, while detailed controls are specific controls applied to particular processes, applications, or activities. Therefore, Statement 1 is correct. Application controls are generally detailed controls, not a subset of pervasive controls, so Statement 2 is incorrect. Software implementation is normally a project or change management activity with detailed control procedures, not a pervasive control by itself, so Statement 3 is incorrect. Disaster recovery planning includes specific controls and procedures for continuity and recovery, so it can be treated as a detailed control in this context. Internal auditors use COBIT to evaluate IT governance, risk, and control design. Therefore, Option A is correct.
NEW QUESTION # 144
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