Which of the Following Is Not an Internal Audit Objective

question 110

Multiple Choice

Which of the following is not an internal audit objective designed to add value to a purchasing department?

• A) A review of the bidding process indicates that a company may be operating under two different names and therefore purchasing is not getting the three independent bids required by policy.
• B) The purchasing process is causing unnecessary delays in ordering product.
• C) The purchasing department is not following a new human resource policy requiring a six-month performance review for new employees.
• D) The director of purchasing is new to the organization and has made several decisions regarding vendor approvals with which the auditor does not agree.

Correlate technological advancements with the acceleration of modern globalization and its impacts.

Analyze the effects of globalization on power dynamics, particularly the transfer of power among local, national, and international entities.

Understand the role of technology and communication in facilitating movements and reforms across the globe, specifically during events like the Arab Spring.

Understand the distinction and roles of different cyclooxygenases (COX) enzymes in the body.

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Definitions:

Monopolist

A single seller in a market who has significant control over the price and supply of a good or service, facing little to no competition.

Marginal Cost

The increase in cost incurred by producing one additional unit of a product or service.

Producer Surplus

The difference between what producers are willing to sell a good for and the actual market price they receive, representing a measure of producer welfare.

Average Cost

The total cost divided by the quantity produced, indicating the cost per unit of output.