extra Qs Flashcards
Alain is a Manager with Glasnow Ltd. He always looks for opportunities to praise his subordinates
and takes great pleasure in promoting staff who perform well.
Requirement
As far as his subordinates are concerned, Alain’s actions meet their:
A self-actualisation needs
B status/ego needs
C social needs
D safety needs
B - status and ego needs can be met by giving praise and promotion
self-actualisation needs = the individual’s needs for realising his/her own potential for continued self-development and creativity; need for a feeling of accomplishment and of being satisfied with oneself
social needs = the need to be part of a group
safety/security needs = the need for protection
Humberts is a restaurant that specialises in Mediterranean cuisine with a modern style. It has recently
employed Juan, a marketing consultant, to review the service customers receive when they have a
meal.
Requirement
Which three aspects of the marketing mix will Juan consider when reviewing the restaurant’s service
to customers, and which would he not consider when reviewing the marketing mix for a product?
A Place
B People
C Promotion
D Price
E Processes
F Product
G Physical evidence
SERVICE INDUSTRY - additional 3 Ps in marketing mix
people, processes, physical evidence
read the Q carefully
Martina is a Human Resources Manager with Wardman Ltd. She is working on a project to increase
the spans of control of managers in the company’s largest subsidiary. She needs to identify any
factors about the subsidiary that indicate increases in spans of control are possible.
Requirement
Which of the following factors identified by Martina suggests that increased spans of control are
possible?
A Subordinates carry out very similar tasks
B Subordinates are geographically dispersed
C Frequent, time-consuming problems arise
D Managers are engaged in large amounts of non-supervisory work
A - if ees are all carrying out the same/similar tasks, a supervisor will be more able to look after many subordinates (wider span of control) as they can all be handled in similar ways + will face similar problems
How is cyber risk classified?
operational risk
Stewardship of the organisation’s financial resources is part of which of its finance function’s tasks?
A Financial reporting
B Recording financial transactions
C Treasury management
D Management accounting
B
providing info to assist mgmt and other internal users in their decision-making, performance mgmt, planning + control activities
recording financial transactions
financial reporting
treasury mgmt
mgmt accounting
mgmt accounting
ensuring that the business has an accurate record of its’ revenue, expenses, assets, liabilities and capital
recording financial transactions
financial reporting
treasury mgmt
mgmt accounting
recording financial transactions - stewardship of the organisation’s financial resources
managing business funds - cash, working cap, long-term investments, debt + equity finance
recording financial transactions
financial reporting
treasury mgmt
mgmt accounting
treasury mgmt
The finance director of Boiled Sweets plc wants to specify the levels of performance that underpin
the company’s control system.
Requirement
Which three of the following are the main components of the company’s control system?
A Measurement of actual performance and comparison against targets
B Identification of deviations from the plan
C Establishment of standards or targets to express planned performance
D Follow-up action to correct adverse results or to exploit favourable variances
E Measurement of ideal performance
F Devising the plan
A C D
6 Which three of the following are components of the COSO internal control framework?
A Information and communication
B Control environment
C Internal audit
D Project management
E Monitoring activities
A B E
- info and communication
- control environment
- control activities
- risk assessment
- monitoring activities
GoodGreen plc prides itself on the environmentally friendly nature of its operations. It applies the
triple bottom line approach to the reporting of its performance.
Statement (1): The social aspect of the triple bottom line measures issues such as diversity and
equality in respect of the company’s workers.
Statement (2): The economic aspect to the triple bottom line measures issues such as the eradication
of bribery, fraud and money laundering.
Requirement
Identify whether each statement is true or false.
A Statement (1) true; Statement (2) false
B Statement (1) false; Statement (2) false
C Statement (1) true; Statement (2) true
D Statement (1) false; Statement (2) true
A
both refer to social aspect of triple bottom line (PEOPLE) - economic, social, environmental
strategy risk
a risk that the business’s objectives will not be achieved because it chooses the wrong corporate, business, functional or IT strategy / fails to keep up with technological advancements
enterprise risk
the chance that a strategy will succeed or fail - the chance that the business should not have undertaken it in the first place
mean, mode, median
normal, neg skewed, pos skewed
normal mean = mode = median
neg skewed = mean < median < mode (mean is lowest)
mean is lowest - to the left
pos skewed = mode < median < mean (mean is highest)
mean is highest - to the right
In both bank-based and market-based financial systems, financial intermediation is of increased
importance because of its ability to address the market imperfection of:
A monopoly
B asymmetric information
C trade barriers
D tariffs and quotas
B - financial intermediation overcomes the problem of asymmetric info associated with direct financing
financial intermediation = process channels funds between third parties with a surplus and those with a lack of funds
