3478277 -The Review of an Organization for Efficiency and Effectiveness

question 68

Multiple Choice

3478277
-the review of an organization for efficiency and effectiveness

• A)compliance audit
• B)economy and efficiency audit
• C)effectiveness
• D)efficiency
• E)functional audit
• F)Government Auditing Standards
• G)government audit
• H)Institute of Internal Auditors
• I)operational auditing
• J)organizational audit
• K)program audit
• L)Single Audit Act
• M)special assignment
• N)IIA Practice Standards

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Definitions:

Expected Repairs

Anticipated maintenance or fixing activities for assets, often projected and budgeted for in financial planning.

Units-Of-Activity

A depreciation method where the expense is based on the number of units the asset produces or hours it operates, rather than the passage of time.

Useful Life

The estimated period of time that an asset is expected to be used by an entity, affecting its depreciation calculation.

Declining-Balance Method

The declining-balance method is an accelerated depreciation technique that applies a constant rate of depreciation to an asset's book value each year, resulting in decreasing depreciation expenses over time.