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Mock exam mistakes Flashcards

1
Q

Is a strategic alliance a separate legal entity?

A

No

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2
Q

What components make up a financial system?

A

Markets
Securities
Intermediaries

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3
Q

What happens to supply and demand when factor costs rise?

A

Both contract

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4
Q

What does a redistribution of wealth address?

A

Lack of equity

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5
Q

What is a distributed ledger?

A

System that allows people who don’t know each other to trust shared record of events

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6
Q

What do management controls include?

A

All aspects of business management

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7
Q

Where are bonds sold?

A

Capital and secondary market

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8
Q

What is supply side economics?

A

Behaviour of AS curve

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9
Q

What should be the make up of a board?

A

1/2 the board needs to be NEDs, therefore 5

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10
Q

What security measures are applied to digital assets?

A

Encoding
Encryption
Watermarks

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11
Q

What are 2 disadvantages being a sole trader?

A

Floating charge cannot be used to secure borrowing

Owner has unlimited liability

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12
Q

What are 3 characteristics of management accounting information?

A

Looks forward and backwards

Likely to include cash flow

Likely to include budgeting info

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13
Q

What methods can be used by a company to obtain a new London Stock Exchange listing for its shares?

A

Offers for sale

Placing

Offer for subscription

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14
Q

If the agency problem is behind the need for sound corporate governance, who is the principal?

A

Shareholders

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15
Q

What are 3 characteristics of perfect competition?

A

Suppliers earn normal profits

Consumers lack influence over market price

Single selling price

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16
Q

Is bulk buying a source of economies of scale?

A

Yes

17
Q

In addition to a fine, what is a punishment for collusion?

A

Innovation

18
Q

The market for a product is a natural monopoly. Production of the product must be associated with:

A

low marginal costs

19
Q

Does the use of advanced accounting software reduces the need for auditors to audit transactions and verify the ownership of assets.

A

Yes

20
Q

The use of advanced accounting software reduces the need for auditors to audit transactions and verify the ownership of assets.

A

Yes

21
Q

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. As far as his subordinates are concerned, Alain’s actions meet their:

A

Status/ego needs

22
Q

What suggests that increased spans of control are possible?

A

Subordinates carry out very similar tasks

23
Q

How is cyber risk classified?

A

Operational risk

24
Q

Stewardship of the organisation’s financial resources is part of which of its finance function’s tasks?

A

Recording financial transactions

25
Q

The finance director of Boiled Sweets plc wants to specify the levels of performance that underpin the company’s control system. What are the main components of the company’s control system?

A

Measurement of actual performance and comparison against targets

Establishment of standards or targets to express planned performance

Follow-up action to correct adverse results or to exploit favourable variances

26
Q

What is true about an overdraft facility?

A

Legal documentation is minimal in comparison with other types of loan.

The facility is repayable on demand.

Assets are not normally required as security.

27
Q

What is the inability to finance the credit given to customers?

A

Liquidity risk

28
Q

What measure of spread is most useful when comparing the risk of two data sets, where the values of the data in the first set are much smaller than the values of the data in the second set?

A

Coefficient of variation

29
Q

what are 3 market imperfections associated with financial markets

A

Information asymmetry

Transaction costs

Insider dealing

30
Q

What is true of companies that adopt the Water Principles?

A

They must apply the principles and explain how they have applied them. They do not need to
follow the guidance.

31
Q

What is an IS that combines data and analytical models to help with semi-structured and unstructured problem solving of an operational nature.

A

Decision Support system

32
Q

What are 3 ways in which data analytics of big data can create value for a business?

A

Risk management

Innovation

Performance improvement

BTF (11 decks)

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