This Organization Issues Guidelines for Conducting the IT Audit

question 38

Multiple Choice

This organization issues guidelines for conducting the IT audit.The standards issued address practices related to control and security of the IT system.

• A)Auditing Standards Board
• B)Public Company Accounting Oversight Board
• C)International \Audit Practices Committee
• D)Information Systems Audit and Control Association

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Definitions:

Perfect Substitute

Goods that can be completely replaced by another with no loss of utility to the consumer, such as different brands of sugar.

Units Of Good

The individual items or quantities of a product that can be quantified, counted, and often sold individually.

Utility Function

A mathematical representation of a consumer's preference system, ranking different bundles of goods and services by their levels of satisfaction.

Indifference Curve

A graph that represents different bundles of goods among which a consumer is indifferent, showing levels of consumption where the consumer has no preference for one combination over another.