Which of the Following Statements Accurately Describes the Responsibility of the Internal

question 15

Multiple Choice

Which of the following statements accurately describes the responsibility of the internal audit activity (IAA) regarding IT governance?
1. The IAA does not have any responsibility because IT governance is the responsibility of the board and senior management of the organization.
2. The IAA must assess whether the IT governance of the organization supports the organization's strategies and objectives.
3. The IAA may assess whether the IT governance of the organization supports the organization's strategies and objectives.
4. The IAA may accept requests from management to perform advisory services regarding how the IT governance of the organization supports the organization's strategies and objectives.

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

Apply knowledge of tax (GST and PST) calculations in financial contexts.

Calculate mill rates and understand their impact on property taxes.

Determine weighted average shares and understand its relevance in financial decisions.

Apply percentage calculations in practical financial contexts.

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Definitions:

Conditioned Fear

A learned response to a previously neutral stimulus that has been repeatedly paired with an aversive stimulus, resulting in the expression of fear responses to the neutral stimulus alone.

Safe Biking Trail

A designated path for bicycle riding that is designed or modified to minimize risk and enhance safety for cyclists.

Classical Conditioning

A learning process that occurs when two stimuli are repeatedly presented together, eventually eliciting the same response.

Operant Behavior

Behavior that is controlled by consequences, including reinforcement or punishment, which alter the likelihood of the behavior being repeated.