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Total questions: 134
Worksheet time: 1hrs 7mins
Which of the following statements regarding management accounting reports is correct?
Budgets show the revenues and expenditure for the last accounting period.
Cost schedules are often also referred to as standard cost cards.
Variance reports compare the original budgets to revised budgets.
Management accountants will usually be responsible for creation of the statement of financial position.
Gabriella is considering creating a financial accounting department within her business but is unsure of what such a department would actually do. Which of the following would usually be prepared by a financial accounting department?
Cost schedules
Statement of cash flows
Variance analysis
Tax calculations
Which of the following is NOT one of the purposes of budgets?
responsibility for expenditure
responsibility for expenditure
co‐ordination of staff
costing of units
In a very large company managing the total level of working capital would probably be the responsibility of the:
Finance director
Chief accountant
Treasurer
Management accountant
All the following statements except one describe the relationship between data and information. Which one is the exception?
Information is data which has been processed in such a way as to be meaningful to the person who receives it.
The relationship between data and information is one of inputs and outputs.
Data is always in numerical form whereas information is always in text form.
There is no legal requirement for companies to have a management accounting function. Is this statement TRUE or FALSE?
true
false
Working capital is calculated as:
the excess of current assets over current liabilities
the excess of bank borrowings over current assets
the excess of long‐term liabilities over short‐term liabilities
the excess of fixed assets over current assets
Which of the following statements about accounting information is incorrect?
Some companies voluntarily provide specially prepared financial information to employees.
Accounting information should be relevant, reliable, complete, objective, and timely.
Accountants have a strong obligation to ensure that company accounts conform to accounting standards.
Charity and professional bodies do not have to produce financial statement in the same way as business.
Joseph has just started his first job in an accountancy department. A qualified senior member of staff explains to him what the main aim of accounting is. Which of the following options is the correct aim of accounting?
To maintain ledger accounts for every asset and liability.
To provide financial information to users of such information.
To produce a trial balance.
To record every financial transaction individually.
Which of the following does company law require a statement of financial position to give?
A true and fair view of the profit or loss of the company for the financial year
An unqualified (or 'clean') report on the statement of affairs of the company as at the end of the financial year
A true and fair view of the statement of affairs of the company as at the end of the financial year
Daniel is trying to find certain key figures from the financial statements of HGF Co. He is unsure about whether to look at the Statement of Financial Position (SOFP) or the Statement of profit or loss (SOPL) for each one. Which section of the financial statements will the following information be found?
The net assets of HGF should be presented on SOFP and HGF's gross profit for the year should be presented on SOPL
The net assets of HGF and HGF's gross profit for the year should be presented on SOFP
The net assets of HGF and HGF's gross profit for the year should be presented on SOPL
The net assets of HGF should be presented on SOPL and HGF's gross profit for the year should be presented on SOFP
"Financial accountants usually produce information for the organisation's external stakeholders." Is this statement TRUE or FALSE?
true
false
It is considered to be best practice for the internal auditors of a large company to report directly to:
the board of directors
the external auditors
the shareholders
the audit committee
Internal check is defined as:
ensuring that no single task is executed from start to finish by only one person.
providing reasonable assurance about the achievement of the organisation's objectives.
The key purpose of internal auditing is to:
detect errors and fraud.
evaluate the organisation's risk management processes and systems of control.
give confidence as to the truth and fairness of the financial statements.
express an internal opinion on the truth and fairness of the financial statements.
Internal auditors have an unavoidable …………… problem, as they report to those people whose activities they are reporting on. Which word correctly completes this sentence?
Integrity
Independence
Loyalty
External auditors have no interest in the internal controls of the organisation they are auditing. Is this statement TRUE or FALSE?
true
false
Marc is preparing a receivables ledger reconciliation to check for any errors or frauds that may have occurred the month. What type of control is this an example of?
Preventive
Detective
Corrective
Physical
Câu 1. The primary objective of profit organizations is to maximize profit.
true
false
Câu 2. The primary objective of Not-for-profit organizations is to reduce costs of their operations and thus minimize the burden on taxpayers.
true
false
Câu 3. The primary objective of profit organizations is to maximize the output of goods or service.
true
false
Câu 4. Charities would usually be classified as a type of non-governmental organisation (NGO)
true
false
Câu 5. The interests of customers and shareholders can often appear to conflict – for example in the quality of goods and services.
true
false
Câu 6. A company is using a communication strategy aimed at explaining the rationale behind its actions to its stakeholders. Using Mendelow’s matrix, these stakeholders would be categorised as ‘minimal effort’.
true
false
Câu 7. Which of the following is NOT a key feature of an organisation?
Controlled performance
collective goals
social arrangements
Creation of a product or service
Câu 8. Which of the following organisations is normally found in the public sector?
schools
charities
clubs
businesses
Câu 9. The public sector is normally concerned with:
providing services to specific groups funded from charitable donations.
raising funds by subscriptions from members to provide common services.
making profit from the sale of goods.
the provision of basic government services.
Câu 10. A Co is a company which specialises in forestry. It has recently purchased B Co, which runs a chain of recreational resorts. A has allowed B to build several new resorts on land which is owned by A, but which it is no longer able to use. The resorts have proven highly profitable and popular. Which of the following best explains the reason for the improved performance of the combined entity?
specialisation ( chuyên môn hoá)
social interactivity ( tương tác xh)
synergy ( đồng tâm hiệp lực)
service
Câu 11. “An organisation that is owned and democratically controlled by its members’? To which type of organisation does this definition relate?
Charities
Non-governmental organisations
Co-operatives ( hợp tác xã)
private limited companies ( công ti không niêm iết)
Câu 12. Employees are ---- stakeholders, while finance providers are --- stakeholders. Which two words fill the gaps in the above sentence?
internal, connected
external, internal
connected, outsiders
internal, suppliers
Câu 13. Stakeholders can be classified in several different ways, including:
(i) Primary
(ii) (ii) External
(iii) Connected
(iv) (iv) Secondary
Which TWO categories would pressure groups usually be included within?
1 vs 3
1 vs 4
2,4
3,4
Câu 14. According to Mendelow, which of the following is an appropriate approach to take towards stakeholders who have low levels of power and low levels of interest?
minimal efford
keep informed
keep sastisfied
key players
Câu 15. According to Mendelow, which of the following is an appropriate approach to take towards stakeholders who have high levels of power and low levels of interest?
minimal effort
keep informed
keep sastisfied
key players
Câu 16. According to Mendelow, which of the following is an appropriate approach to take towards stakeholders who have high levels of power and high levels of interest?
minimal effort
keep informed
keep sastisfied
key players
Câu 17. According to Mendelow, which of the following is an appropriate approach to take towards stakeholders who have low levels of power and high levels of interest?
minimal effort
keep informed
keep sastisfied
key players
Câu 18. Which of the following words completes this sentence appropriately?
An organisation is a social arrangement which pursues collective………, which controls its own performance and has a boundary separating it from its environment. Choose the properly word:
goals
profits
stakeholders
tactics ( method)
Câu 19. What is the term given to the idea that the combined output of a number of individuals working together will exceed that of the same individuals working separately?
sympathy
specialization
the synergy
system thinking
Câu 20. ADB is a business which is owned by its workers. The workers share the profits and they each have a vote on how the business is run. Which of the following should be used to describe ADB?
public sector
private sector
not-4-profit
co-operative
Câu 21. Which of the following statements regarding limited companies is correct?
Public limited companies have access to a wider pool of finance than partnerships or sole traders.
Both public and private limited companies are allowed to sell shares to the public.
Shareholders are liable for any debts the company may incur.
Companies are always owned by many different investors.
Câu 22. The following are stakeholders of a business organisation:
1. Manager
2. Customer
3. Executive Director
4. Supplier
Which of the above are CONNECTED stakeholders?
1,2
2,4
2,3
3,4
Câu 1. Tall organisations typically have narrow spans of control.
True
False
Câu 2. A flat organisation typically has narrow spans of control.
true
false
Câu 3. Constructive dismissal occurs when an organisation no longer needs an employee and therefore terminates their contract.
true
false
Câu 4. Wrongful dismissal occurs when an organisation terminates the employment contract with its employee without complying required dismissal procedure.
true
false
Câu 5. A political system can be defined as ‘a complete set of institutions, political organisations and interest groups, the relationship between those institutions and the political rules and norms that govern their functions.’
true
false
Câu 6. Offshoring refers to the transfer of existing staff members to other countries with lower wage.
true
false
Câu 7. When considering Porter’s value chain analysis, outbound logistics is:
primary act
support act
Câu 8. Delayering refers to eliminating several levels of unnecessary management to reduce Y’s costs, leading to lower prices for customers.
true
false
Câu 9. Downsizing refers to keeping the current management structure, but reducing the number of staff could lead to demotivation among the remaining workers.
true
false
Câu 10. Data Protection legislation, such as The Data Protection Act in the UK, typically focuses on:
issues concerning data held about incorporated entities.
rights of the individual with regards to withholding information about oneself.
the way data about the individual is to be obtained, used, and stored.
aligning the information requirements between different countries.
Câu 11. Which of the following would a transport company monitor under the Political heading as part of a PESTLE analysis?
Tracking systems to monitor driver hours/anti‐theft devices/developments in tyre technology.
State of the economy/oil price movements/a rise in interest rates.
Fuel tax/congestion charges in cities/plans to build new roads.
Predicted car numbers and usage/public concerns over safety
Câu 12. Under typical employment protection legislation, which of the following would be classified as an ‘unfair’ reason for the dismissal of an employee?
The employee was a member of a trade union.
The employee had a lack of qualifications or capability for the job.
The employee was guilty of misconduct.
The employee’s job became redundant.
Câu 13. Which of the following is NOT a typical requirement of consumer rights legislation?
The seller must have legal title to the goods being sold.
Goods sold must be fit for purpose.
Item descriptions must be accurate.
Goods must be reasonably priced.
Câu 14. All contracts must be signed by all relevant parties in order to be binding.
true
false
Câu 15. What is an acronym used to describe the key elements of an organisation's external environment?
SWOT
SMART
PESTLE
Câu 16. AZ Co is performing a SWOT analysis and notes that it has a large cash balance. Which of the SWOT headings would this be most likely to fall under?
strengths
weaknesses
opportunities
threats
Câu 17. Which word correctly completes the sentence? …………… is an analysis of statistics on birth and death rates, age structures of people and ethnic groups within a community.
demographics
economics
ergonomics
psychographics
Câu 18. A recent trend in organisation and management is the rise in ‘virtual organisation’ and 'virtual teamworking'. To which of the following environmental (PESTLE) factors is this most directly attributed?
economics
socio-cultural
technological
political
Câu 19. In the context of 'best practice' employment protection law, in which of the following circumstances is dismissal of an employee automatically considered unfair?
misconduct
incompetence
Marriage to an employee of a key competitor
Selection for redundancy on the basis of age
Câu 20. Porter's five forces model identifies factors which determine the nature and strength of competition in an industry. Which of the following is NOT one of the five forces identified in Porter's model?
Substitute products or services
New entrants to the industry
Bargaining power of customers
Government regulation of the industry
Câu 21. For what function in an organisation would demographic information about social class be most relevant?
human resources
marketing
purchasing
finance
Câu 22. Which of the following is a support activity in Porter's value chain model?
operations
marketing and sales
inbound logistic (input)
procurement
Câu 23. Which of the following is a primary activity in Porter's value chain model?
human resources management
inbound logistics
procurement
firm infracstructure
Câu 24. In relation to organisational structures which of the following is the correct definition of the phrase ‘span of control’?
The number of management levels in an organisational structure
The number of levels in the hierarchy below a given manager
The number of employees that a manager is directly responsible for
The number of managers in the organisation
Câu 25. Porter’s five forces model identifies external factors that determine the potential profitability and therefore attractiveness of a particular industry. Which of the following is one of these forces?
Government regulation of the industry
Bargaining power of buyers
fiscal policy
technological innovation
Câu 1. The key purpose of internal auditing is to:
detect errors and frauds
evaluate the organisation’s risk management processes and systems of control.
give confidence as to the truth and fairness of the financial statements.
express an internal opinion on the truth and fairness of the financial statements.
Câu 1. In an economic environment of high price inflation, those who owe money will gain and those who are owed money will lose. Is this statement true or false?
true
false
Câu 2. ‘Equilibrium’ is the selling price above which the number of units demanded by the market starts to decline.
true
false
Câu 3. Rapid economic growth may lead to increased demand for imports. Is this statement TRUE or FALSE?
true
false
Câu 4. An increasingly high rate of unemployment of country A may lead to a decrease in government spending on social security
true
false
Câu 5. Which of the following is a typical macroeconomic policy objective of governments?
economic growth
money supply management
Câu 6. Frictional unemployment is caused by changes in the skills required by the economy.
true
false
Câu 7. Which of the following is NOT an element of fiscal policy?
G spending
taxation
G borrowing
exchange rate
Câu 8. Which of the following is the name given to unemployment which is the result of aggregate demand in the economy being too small to create employment opportunities for all those willing, and able, to work?
Cyclical unemployment
Real wage unemployment
Structural unemployment
Frictional unemployment
Câu 9. Increases in unemployment, reduced demand, falling household incomes and low business confidence and investment are associated most strongly with which of the following?
high interest rate
increase in money supply
budget deficit
recession
Câu 10. Which word correctly completes this statement? “………. taxes are collected by the Revenue authority from a business, which attempts to pass on the tax to consumers in the price of goods.” Choose a correct work.
direct
indirect
progressive
Câu 11. If a government has a macro-economic policy objective of expanding the overall level of economic activity, which of the following would NOT be consistent with such an objective?
increasing public expenditure
lowering interest rates
increasing taxation
Câu 12. Which of the following does government economic monetary policy relate to?
interest rate
taxation
public borrowing and spending
Câu 13. Which of the following does government economic monetary policy relate to?
taxation
exchange rates
pubilc spending and borrowing
Câu 14. Which of the following is an example of cyclical unemployment?
Lay‐offs among ski instructors in the summer months.
Automation of ticket sales at train stations resulting in the redundancy of ticket officers.
The restriction of employment in the car industry due to a powerful trade union keeping wages high.
Recession, leading to a fall in demand within the building industry.
Câu 15. The disadvantages of economic growth include which one of the following:
growth rates may exceed inflation rates.
the gap between rich and poor may narrow.
growth may be in ‘demerit’ goods.
growth may exceed population growth.
Câu 1. A shift in the demand curve for a product is caused by changes in the conditions of demand, rather than a change in the price of the product. Is this statement TRUE or FALSE?
true
false
Câu 2. A good for which demand decreases with increase in income of consumers is called
complement good ( hh bổ sung)
inferior good ( hh thứ cấp)
Câu 3. Goods which are consumed together are called
complement good
substitute good ( hh thay thế)
Câu 4. The law of demand states that an increase in the price of a good decreases the demand for that good.
true
false
Câu 5. If apples and oranges are substitutes, an increase in the price of apples will decrease the demand for oranges.
true
false
Câu 6. If golf clubs and golf balls are complements, an increase in the price of gold clubs will decrease the demand for golf balls.
true
false
Câu 7. If consumers expect the price of shoes to rise, there will be an increase in the demand for shoes today.
true
false
Câu 8. An increase in the price of steel will shift the supply of automobiles to the right
true
false
Câu 9. When the price of a good is below the equilibrium price, it causes a surplus.
true
false
Câu 10. If there is a shortage of a good, then the price of the good tends to fall.
true
false
Câu 11. Which of the following shifts the demand for watches to the right?
A decrease in the price of watches
A decrease in the price of watch batteries if watch batteries and watches are complements
Câu 12. If the cost of milk rises, and milk is a major ingredient in yoghurt, then the:
Supply curve for yoghurt shifts to the left
Supply curve for yoghurt shifts to the right
Câu 13. If an increase in the price of blue jeans leads to an increase in the demand for tennis shoes, then blue jeans and tennis shoes are
substitutes
complement
Câu 1. Products A and B are substitutes. A 5% change in the price of A has resulted in a 4% change in the demand for B. What is the cross elasticity of demand (XED) between A and B?
+0.8
-0.8
+1.25
-1.25
Câu 2. G Co increases the selling price of its only product, the GF1000 by 5%. This causes a reduction in the number of units it sells by 8%. Is the GF1000’s price elasticity of demand likely to be:
less than 1
greater than 1
equal to 1
negative
Câu 3. H Co manufactures and sells a motor vehicle, the GHF300. Which of the following would cause an expansion in demand for this product in country M?
The GHF300 becoming more fashionable with the public
A reduction in direct taxes within country M
An increase in the population of country M
A reduction in the selling price of the GHF300
Câu 4. Which of the following is NOT a characteristic of a perfect market?
All suppliers provide a wide range of products and services
Large numbers of customers and suppliers
There is perfect information for customers and suppliers
There are no entry or exit barriers to the market
Câu 5. Which of the following is a feature of monopolistic competition?
Few competitors in the market
Undifferentiated products
Low advertising expenditure
No major barriers to entry to or exit from the market
Câu 6. Which of the following is NOT a factor that affects price elasticity of demand?
The amount of customer income spent on item
Duration of the price change
The necessity of the item to consumers
The initial number of units demanded
Câu 7. L makes a variety of different products, including windows. Which TWO of the following would cause
An increase in the level of VAT charged by the government on windows
A new automated assembly system for L’s products that reduces L’s window
manufacturing overheads
Staff negotiations, leading to window production staff adopting a shift‐work approach
which makes better use of L’s production facilities
Staff negotiations, leading to a slight rise in the hourly rate paid to window production
workers
Câu 8. E Co manufactures a single product. Which of the following would indicate that the product will have a low price elasticity of demand?
A. Customers spend a high proportion of their incomes on the product
Customers tend to buy the product by habit
Customers don’t see the product as being a necessity
Customers have a number of substitute products that they can choose from
Câu 9. Which one of the following would normally cause a rightward shift in the demand curve for a product?
A fall in the price of a substitute product
. A reduction in direct taxation on incomes
A reduction in price of the product
An increase in the price of a complementary product
Câu 10. Demand for goods and services are influenced by which of the following:
price of the product
price of other product
consumer tastes
All of the above are factors which influence the demand for goods and services.
11. A price ceiling set above the equilibrium market price will result in:
market failure
market equilibrium
excess supply over demand
excess demand over supply
Câu 12. What is an inferior good?
A good of such poor quality that demand for it is very weak
A good of lesser quality than a substitute good, so that the price of the substitute is higher
A good for which the cross elasticity of demand with a substitute product is greater than 1
A good for which demand will fall as household income rises
Câu 13. The condition in which market supply matches market demand is called
equilibrium
equalisation
normalisation
non of the above
Câu 14. Zero (0) price elasticity of demand means
whatever the change in price, there is absolutely no change in demand
for a small change in price, there is a small change in demand
for a small change in price, there is a large change in demand
for a large change in price, there is a small change in demand
Câu 15. Which of the following is NOT related to Microeconomics?
unemployment
labor economics
Behaviour of individual economic units
demand, supply and equilibrium
Câu 16. If an increase in consumer incomes leads to a decrease in the demand for camping equipment, then camping equipment is
complepment good
normal good
substitute good
inferior good
Câu 1. Cultures develop over time or can change instantly as a result of a single major event, for example the death of a company founder. Is this statement true or false?
true
flase
Câu 2. Schein said that leadership and culture were totally divorced from one another. Is this statement true or false?
true
false
Câu 3. How diverse is the company either in terms of product range, geographical spread or cultural make-up of its stakeholders is a factor that shape the culture of the organization.
true
false
Câu 4. Which of the following can be considered as influences on organisational culture?
Individual initiative, degree of risk tolerance, clarity of direction
B. Individual initiative, no. of board of directors, clarity of direction
Câu 5. A project team is more likely to be a role culture
true
false
Câu 6. Culture was expressed by Handy as being “the way we do things around here”. Is this statement true or false?
true
false
Câu 7. Culture was expressed by Handy as ‘the sum of the belief, knowledge, attitudes, norms and customs that prevail in an organisation’. Is this statement true or false?
true
false
Câu 8. The tales of company creation, such as difficulties the founder had to face and how he/she managed to overcome them successfully often form a part of organisational culture.
Is this statement true or false?
true
false
Câu 9. “The first leaders of the organisation tend to define its later culture.” Which major writer on culture came to this conclusion?
handy
schein
Câu 10. John begins a new job at a company. He discovers that, unlike his previous job, all staff members dress casually. According to Schein, which level of culture is John observing?
artefacts ( thể hiện ra)
espoused values
Câu 1. According to Hofstede, the extent to which security, order and control are preferred to ambiguity and change is called:
masculinity
individualism
power distance ( kcach quyền lực)
uncertain advoidance
Câu 2. ABC is a small enterprise led by Ms. X who started the business 2 years ago. X is central to all the key decisions made in the firm. Her knowledge and business awareness is critical to the firm's success. Which of Handy's cultural types is present in ABC?
power
task
role
person
Câu 3. To whom of the 4 Greek Gods was Handy referring when the culture of an organisation is likely to be focused on individual, that is, the person takes the central point of the organisation
zeus
apollo
athena
dionysus
Câu 4. A culture where there is one central source of power and few procedures or rules would be classified by Handy as what sort of culture?
power
task
role
person
Câu 5. Which of the following factors could influence the culture of an organisation?
1. Past successes and failures experienced by the organisation
2. Senior management
3. The person who founded the organisation
4. The technology used by the organisation
5. The industry the organisation is in
1,3,4
2,3,5
1,2,3,4
all
Câu 6. A large management consultancy has implemented a matrix structure. Many of the consultants work in temporary project teams. Which of Handy's cultural types would you expect to see in this organisation?
role
task
person
power
Câu 7. Research has indicated that workers in country X display characteristics such as toughness and the desire for material wealth and possessions, while workers in country Y value personal relationship, belonging and the quality of life. According to Hofstede’s theory, these distinctions relate to which of the following:
masculine- feminine
low power distance- high power distance
low uncertainty avoidance- high uncertainty advoidance
individualism- collectivist
Câu 8. Hofstede looked for national differences in an attempt to find aspects of culture that might influence business behaviour. Which of the following is one of Hofstede's key dimensions of national differences?
position-power
uncertainty avoidance
work-relaxation
task-people
Câu 9. Which of the following is NOT true about Schein cultural theory?
There exists a little influence on organisation culture by who leads the organisation
If leaders are to lead then it is essential that they understand the levels of organisational culture.
Schein's cultural theory is sometimes represented as Iceberg concept.
Expoused values are the strategies and goals of an organisation, including company slogan.
Câu 10. Schein divided organizational culture into 3 levels. They are:
mission, vision, goal
artefact, values, goal
value, goal, basic assumption
artefacts, expoused values, basic assumptions and values
Câu 12. According to Schein, there is a strong link between culture and _____________. Which word best fills the blank?
management style
leadership
influence
size of the organization
Câu 11. Which of the following statements is false?
Organisational culture is the sum total of the beliefs, knowledge, attitudes, norms and customers that prevail in an organisation.
Culture is not something standard.
The national culture, customs and societal norms of a country also shape the cultures of organisations operating in it.
A country's form of government may have no dramatic impact on how an organisation does business.
Câu 13. Hofstede developed an influential model of the dimensions on which national cultures differ. In the Hofstede's model, a national culture which supports single status pay arrangements, informal styles of dress in the workplace and self-managed team working would be classified as:
individualistic
collective
lower power distance
high uncertainty avoidance
Câu 14. In a higher education teaching organisation an academic faculty is organised into courses and departments, where teaching staff report both to course programme managers and to subject specialists, depending on which course they teach and upon their particular subject specialism. According to Charles Handy's four cultural stereotypes, which of the following describes the above of organisational structure?
role
task
power
person
