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IIA IIA-CIA-Part3-3P Exam With Confidence Using Practice Dumps

Exam Code:
IIA-CIA-Part3-3P
Exam Name:
CIA Exam Part Three: Business Knowledge for Internal Auditing
Certification:
CIA
Vendor:
IIA
Questions:
488
Last Updated:
Nov 14, 2025
Exam Status:
Stable
IIA IIA-CIA-Part3-3P

IIA-CIA-Part3-3P: CIA Exam 2025 Study Guide Pdf and Test Engine

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CIA Exam Part Three: Business Knowledge for Internal Auditing Questions and Answers

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Question 1

Organizations use matrix management to accomplish which of the following?

Options:

A.

To improve the chain of command.

B.

To strengthen corporate headquarters.

C.

To focus better on a single market.

D.

To increase lateral communication.

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Question 2

During which phase of the contacting process ate contracts drafted for a proposed business activity?

Options:

A.

Initiation phase

B.

Bidding phase

C.

Development phase

D.

Management phase

Question 3

An internal auditor was asked to review an equal equity partnership In one sampled transaction Partner A transferred equipment into the partnership with a self-declared value of $10,000 and Partner B contributed equipment with a self-declared value of $15 000 The capital accounts of each partner were subsequently credited with S12,500. Which of the following statements is true regarding this transaction?

Options:

A.

The capital accounts of the partners should be increased by the original cost of the contributed equipment.

B.

The capital accounts should be increased using a weighted average based on the current percentage of ownership

C.

No action is needed as the capital account of each partner was increased by the correct amount

D.

The capital accounts of the partners should be increased by the fair market value of their contribution

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