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NEW QUESTION: 1
While managing portfolio communications, the portfolio manager needs to account for the communication needs of the component teams in order for them to stay in the loop of the big picture. Which of the following can be of interest to this group of stakeholders?
A. To know about the portfolio changes, risks and issues that may affect their components, and to do interdependency management in order to cover any dependent component's issues
B. To be informed regularly of the portfolio progress so they can adjust their work accordingly
C. To be informed of all portfolio changes so they can assess which changes affect their components
D. To know about the portfolio changes, risks and issues that may affect their components
Answer: D

NEW QUESTION: 2
An external quality assurance review which was authorized by the chief audit executive (CAE) indicated significant findings from the Standards. To whom should the final results of the quality assurance review be reported?
A. The CAE with copies to the board and senior management.
B. To the senior management with a copy to the board.
C. Confidentially to the CAE only
D. To the board with copies to the external auditor or regulatory oversight body.
Answer: A

NEW QUESTION: 3
Consider the following conditions of ending inventory and the stated results:
Ending Cost of Inventory Goods Sold Net Income
A. Condition B
B. Overstated Overstated Overstated
C. Condition A
D. Understated Overstated Understated
Which condition is true with regard to the ending inventory?
E. Condition C
F. Overstated Understated Understated
Answer: D,E
Explanation:
When ending inventory is understated, inventory costs assigned to the cost of goods sold will be overstated and consequently the net income will be understated.