According to IIA Guidance, Which of the Following Statements Is

question 177

Multiple Choice

According to IIA guidance, which of the following statements is false regarding continuing professional education for the internal audit activity (IAA) ?

• A) Continuing professional education can be obtained through IAA involvement in research projects.
• B) Employers are responsible for ensuring that the continuing professional education needs of the IAA are met.
• C) Completion of self-study courses fulfills IAA continuing professional education requirements.
• D) Specialized education that meets unique organizational needs cannot qualify as IAA professional development.

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Definitions:

Sales Budget

A sales budget estimates the expected sales revenue for a certain period, projecting quantities sold and revenues earned.

Depreciation

The accounting process of allocating the cost of a tangible asset over its useful life.

Merchandise Inventory

Goods that a retailer, wholesaler, or distributor holds for the purpose of resale.

Monthly Depreciation

The allocation of an asset's cost over its useful life on a monthly basis, reflecting its consumption or wear and tear.