Business and Technology Quiz II

Which TWO of the following are examples of connected stakeholders?

• Manager and Supplier

• Customer and Supplier

• Executive Director and Employees

• Supplier and Creditor

Martin is an experienced and fully trained shipbuilder, based in a western European city. Due to significant economic change in supply and demand conditions for shipbuilding in Martin's own country, the shipyard he worked for has closed and he was made redundant. There was no other local demand for his skills within his own region and he would have to move to another country to obtain a similar employment, and could only find similar work locally through undertaking at least a year's retraining in a related engineering field. Which of the following describes the type of unemployment that Martin has been affected by?

• Marginal unemployment

• Cyclical unemployment

• Frictional unemployment

• Structural unemployment

The aggregate level of demand in the economy is made up of government expenditure, ______ , ______ and net gains from international trade. Which of the following correctly completes the sentence above?

• Savings

• Taxation

• Investment

• Consumption

The overall average age of a population in a country is directly dependent on two demographic factors: birth rates and death rates. Assuming equal rates of change, will each of the following lead to an overall ageing of the population?

• Increasing death rate, decreasing birth rate

• Decreasing death rate, increasing birth rate

• Decreasing birth rate, decreasing death rate

• Increasing birth rate, increasing death rate

Which of the following is the MAIN function of marketing?

• To maximise sales volume

• To persuade potential consumers to convert latent demand into expenditure

• To identify suitable outlets for goods and services supplied

• To identify and anticipate customer needs

Neill works as the procurement manager of JL Company, a large services company. Information provided by Neill is most relevant to which of the following elements of the marketing mix?

• Distribution (or place)

• Price

• Processes

• Physical evidence

Which of the following is a potential ADVANTAGE of decentralisation?

• Consistency of decision-making across the organisation

• More accountability at lower levels

• Risk reduction in relation to operational decision-making

What is the primary responsibility of the external auditor?

• To ensure that the client's financial statements are reasonably accurate and free from bias

• To verify all the financial transactions and supporting documentation of the client

• To ensure that all the client's financial statements are prepared and submitted to the relevant authorities on time

• To report all financial irregularities to the shareholders of the client

The implementation of a budgetary control system in a large organisation would be the responsibility of the internal auditor.

• False

• True

Which TWO of the following are roles of an external auditor?

• Confirming that the financial accounts present a true and fair view

• Confirming that there are appropriate policies for preventing and detecting fraud

• Confirming that accounts have been prepared in accordance with legal requirements