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ACA - BTF > Questions before exam > Flashcards

Questions before exam Flashcards

1
Q

What are the Mintzburg building blocks? (6)

A

Ideology
Strategic apex
Middle line
Operating core
Technostructure
Support staff

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2
Q

What are the 5 Mintzburg co-ordinating mechanisms for the building blocks?

A
  • Direct supervision
  • Standardisation of work
  • Standardisation of output
  • Standardisation of skills
  • Mutual adjustment
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3
Q

What are the basic principles of an organisational structure?

A
  • Division of work
  • Scalar chain
  • Correspondance of authority and responsibility
  • Appropriate centralisation
  • Unit of command
  • Unity of direction
  • Equity
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4
Q

What do all organisations have in common?

A

Pursuing controlled performance

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5
Q

What is the role of a resource investigator

A

Adds to other peoples ideas?

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6
Q

What is the role of a monitor evaluator

A

Criticises other peoples ideas

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7
Q

What is the role of a plant in a group

A

thought provoker

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8
Q

Meryl Ltd is a relatively new company operating in a complex and ever-changing environment. It offers high technology project management expertise to the construction industry. The company has five senior managers who are functional specialists, alongside whom work project managers, each responsible at any one time for a specific contract.

What would Meryl Ltd be classed as:
An adhocracy
A machine bureaucracy
divisionalised
a professional bureaucracy

A

adhocracy

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9
Q

What are the co-ordinating mechanisms of the six building blocks of an organisation according to Mintzburg

A
  • Division of work
  • Standardisation of output
  • Standardisation of skills
  • Standardisation of work
  • Mutual adjustment
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10
Q

does a company have unlimited liability for its own unpaid debts?

A

Yes

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11
Q

Princeton Ltd is a large, multi-site business. There is a small head office function based just outside London, with authority for day-to-day decision-making delegated to local site managers based at numerous locations throughout the UK.

The company is, therefore, least likely to experience which TWO of the following advantages?

✓Greater development of skill levels in junior management
✓Greater levels of functional co-ordination
✓Greater customer orientation
✓Greater potential for cost savings
✓Greater levels of responsiveness

A

Greater levels of functional co-ordination

Greater potential for cost savings

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12
Q

A decentralised business, HQ in London, managers regional.

Three advantages of this

A
  • Greater levels of training for junior staff
  • Better customer orientation
  • Better responsiveness
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13
Q

Three matrices for undertaking internal analysis

A
  • value chain analysis
  • product life cyle
  • BCG matrix
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14
Q

What is an example of unstructured data

A

Text messages
Photos from social media

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15
Q

What is an example of structured data

A

medical records

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16
Q

Is the BCG matrix used for internal or external analysis

A

internal analysis, typically on a business’ products

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17
Q

Sesame is employed within the finance function. She works on determining the precise unit cost of a range of products and also prepares reports on variances from the standard cost per unit that she has calculated.

She is employed in its
Financial reporting section
Management accounting section
Treasury management section
Financial transaction recording section

A

Management accounting

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18
Q

Which two may be discounted by an exporter so that payment from a customer is received early?

A letter of credit issued by the customer’s bank
A crossed cheque drawn by the customer
A bill of exchange drawn by the customer’s bank
A letter of credit issued by the exporter’s bank
A bill of exchange drawn by the customer

A

A letter of credit issued by the customers bank

A bill of exchange drawn by the customer

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19
Q

If something is both economic and effective, then it is…?

A

efficient

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20
Q

To qualify to do an audit on financial statements, must a person comply with the requirement to “exercise professional competence and due care”

A

no, as that is an ethical principle.

they must be a member of a recognised supervisory body and hold an appropriate qualification, as well as be independent

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21
Q

when setting out the penalties for employees who do not act ethically, is this to be mentioned in the corporate code of ethics?

A

No, it goes in HR policy or employment contracts

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22
Q

Apparently you need to tell the world AT LARGE what your striving to achieve in terms of ethical conduct, is this true?

A

Yes, TRUE.

23
Q

long term bank loans, low or high risk and low or high return?

A

low risk, low return

24
Q

what is the internet of things?

A

a system of interrelated computing devices, mechanical and digital machines or objects with the ability to transfer data over a network wihtout requiring human to human computer interaction.

Along the lines of, computing machines communicating to eachother without the need for humans to interact with thse computers.

An example is of a black box monitoring a persons driving

25
Q

The City Code on Takeovers and Mergers consists of a non-statutory set of general principles and rules designed to ensure that takeover and merger activity:

-Does not breach EU guidelines in the UK.
-respects stakeholder interests in the UK.
-is conducted efficiently in the UK.
- does not undermine competition in the UK.

A

does not undermine competition in the UK

26
Q

“harvest” or “hold” strategy relates to which type of product on the BCG matrix?

A

Cash cow

27
Q

Hayley Porter is an accountant with Worricker plc. Hayley was recently asked to join a project team looking into the strategic position of Worricker plc in relation to four of its major competitors.

It appears, therefore, that she has been recruited into this project team in order to exploit her expertise in:

financial reporting
performance measurement
capital budgeting
strategic management accounting

A

strategic management accounting

SMA allows looking at data of competitors costs and business strategy

28
Q

Which two are common methods in protecting digital assets such as images

✓Encryption
✓Passwords
✓Watermarks
✓Physical controls
✓Access controls

A

Encryption

Watermarks

29
Q

The process of collecting, preparing, managing, analysing, interpreting and visualising large complex datasets is known as what?

A

Data science

30
Q

In the production of a company’s financial statements, the accounting principle that works to ensure that users reading the financial statements are informed about both past transactions and future obligations to pay and rights to receive cash is the:

A

Accruals principle

31
Q

If the decision concerns competitive tactics, would this define a decision as being strategic in nature?

A

No

32
Q

What three characteristics would define a decision as being strategic in nature?

A
  • requires an allocation of resources
  • concerns the cope of a business’s activities
  • will have implications for operational decisions
33
Q

Differences between Big data, Data science and Data analytics

A

Big data - the raw data available to organisations in vast amounts
Data science - Collection and management of the data
Data analytics - Processing of data to create insights that are useful for the businesss

34
Q

Advantages of big data, data science and data analytics

A
  • Enhance transparancy
  • Performance improvements
  • Market segmentations
  • Decision making
  • Innovation
  • Risk management
35
Q

Disadvantages of big data, data science and data analytics

A
  • Storage
  • Workforce skills
  • Data dependancy
  • Data security
  • Data privacy
  • Information overload
36
Q

What should be the risk response for something that is high impact low probability

A

Share or reduce

37
Q

What is the risk response for something that is high probability and high impact?

A

Avoid, Share, Reduce

38
Q

What is the risk response for something that is low probability and low response

A

Accept

39
Q

What is the risk response for something that is high probability and low impact

A

Reduce

40
Q

A dual board structure is made up of

A

supervisory board and management board

41
Q

Is data science concerned about the tools and methods to obtain manage and analyse data?

A

Yes

42
Q

Is data science also about extracting value from data and translating it into a product?

A

Yes

43
Q

Is the competition and markets authority concerned about the public interest?

A

No, concerned about competition, markets and regulation

44
Q

Is the CMA responsible for promoting effective competition?

A

Yes

45
Q

what are marginal costs

A

The additional total cost of producing one more unit

46
Q

Does a natural monopoly have high or low marginal costs and high or low fixed costs?

A

high fixed costs, low marginal costs

47
Q

Perfect competition has suppliers as being price takers or price makers?

A

price takers

48
Q

A perfectly competitive market has differentiated or idential products?

A

homongenous (identical) products

49
Q

what is the marginal propensity to consume

A

the relationship between changes in income and changes in consumption

50
Q

what are the cross elaticities of demand for: complements, substitutes and unrelated goods?

A

complements = negative
substitutes = positive
unrelated goods = 0

51
Q

market failure is caused by what four things:

A

market imperfections (monopoly supplier, monopsony buyer, asymmetric information, slow price response)
economies of scale
public goods
externalities (private vs social costs and benefits)

52
Q

what are the four market imperfections

A

monopoly supplier
monopsony buyer
asymmetric information
slow price change response

53
Q

what are the five controls in the Cyber Essentials Scheme? (think SPAMF)

A

Secure configuration
Patching
Access controls
Malware protection
Firewalls and internet gateways

ACA - BTF (13 decks)

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