Which of the Following Are Appropriate Ways to Obtain Continuous

question 435

Multiple Choice

Which of the following are appropriate ways to obtain continuous professional education? 1. Instructing at a local IIA training event. 2. Attending internal audit conferences and seminars. 3. Practicing specialized audit and consulting work. 4. Participating in research projects in internal auditing.

• A) 1 and 3 only
• B) 1 and 2 only
• C) 3 and 4 only
• D) 1, 2, and 4 only

---

Definitions:

Product Costs

Costs that are directly tied to the production of goods, including raw materials, direct labor, and manufacturing overhead.

Contribution Margin Report

A financial report that shows the difference between a company's sales revenue and variable costs, which contributes towards covering the company's fixed costs and generating profit.

Manufacturing Margin

The difference between the sales revenue of manufactured products and their production costs (excluding indirect costs).

Variable Costing

A costing method that includes only variable production costs (direct labor, direct materials, and variable manufacturing overhead) in product costs.