An organization has recorded the following profit and expenses:Profit before interest and tax$200,000Sales$2,300,000Purchases of materials$700,000Interest expenses$30,000If the value-added tax (VAT) rate is 20 percent and the corporate tax rate is 30 percent, which of the following is the amount of VAT that the organization has to pay?
Faced with a complex, highly technical construction audit engagement, the chief audit executive (CAE) considered complementing the current internal audit resources by engaging the services of a civil engineer.Which of the following should the CAE consider in determining whether the engineer possesses the necessary skills to perform the engagement?1. Professional certification, license, or other recognition of the engineer's competence in the relevant discipline.2. Experience of the engineer in the type of work being considered.3. Compensation or other incentives that the engineer may receive.4. The extent of other ongoing services that the engineer may be performing for the organization.
According to IIA guidance, which of the following would not be a consideration for the internal audit activity (IAA) when determining the need to follow-up on recommendations?
Which of the following is a characteristic of just-in-time inventory management systems?
A multinational organization involved in online business has planned to set up a help desk service. Which of the following best describes the role performed by the help desk?