23. Responsibility for the preparation of fnancial statements lies with which of the following?a) The auditorsb) The directorsc) Finance departmentd) The company as a whole(2 marks)24. A key rationale for the formation of the International Acconting !tan"ar"s #ommittee (IA!#)in $%&3 was which of the following?a) The cost of developing accounting standardsb) Concerns that accounting standards were too laxc) Concerns that accounting standards were too prescriptived) The multitude of diferent accounting standards developed indiferent countries by the 197s! (2 marks)2'. (hich one of the following le)els of planning wol" typically be concerne" with ensring that company resorces are s*cient to carry ot the organi+ation,s strategy?a) "trategicb) #perationalc) Tacticald) $ay%to%day (2 marks)2-. (hich of the following fnancial statements col"be se" to calclate the "ebt to e.ity ratio of an organi+ation?a) "tatement of &nancial position '"#F()b) "tatement of comprehensive income '"#C))c) )ncome statement ')")d) "tatement of cash *ows '"#CF) (2 marks)2&. (hich of the following statements regar"ing management acconting is correct?a) )t helps to record the &nancial performance of the business in a periodb) )t is a re+uirement for companiesc) )t always follows a set formatd) )t loo,s at both historical information and the future (2 marks)2/. (hich of the following is 012 a fnction of the treasry "epartment?a) Cash managementb) Financingc) Taxationd) -udgetary control (2 marks)2%. (hich of the following statements is3are correct?(i). formal procedure for recording &nancial transactions is aCompanies .ctre+uirement!(ii))nternal audit isconcernedwithhelpingthecompanytoachieveitscorporateob/ectiveswhereasanexternal auditisfocused on examining the &nancial statementsa) onlyb) onlyc) -othd) 0either (2 marks)34. (hich of the following is not a type of physical internal control5a) Chec,ing whether refunds have been processed correctlyb) )nstalling CCT1c) 2nsuring that alarms are fully operationald) 2mploying guards to chec, people who enter and leave the building (2 marks)3$. A marketing orientation is best "escribe" by which of the following?a) 3ecognition that sales success is crucial to business successb) (lacing advertising and promotion at the heart of the businessc) (lacing the customer at the centre of organisational activityd) 3ecognition that promotion is central to sales and hence to pro&ts (2 marks)32. 6rice skimming refers to a pricing strategy that in)ol)es which of the following?a) Capturing the bul, of potential sales early through very attractive pricingb) 3e+uiring customers to buy two products 4 the &rst cheap5 the second expensivec) 6igh prices initially and lower prices laterd) "elling one product at a loss expecting customers to buy other more pro&table products (2 marks)33. 2he AI7A se.ence is aime" at which of the following?A )ncreased use of a combination of diferent promotional techni+ues as part of theira) 7promotional mix8b) )ncreasing awareness of the productc) 9oving customers along from .wareness to .ctiond) .iding in ma,ing selling price decisions (2 marks)34. 2he strategic marketing process consists of which of the following acti)ities?a) 0eeds analysis:"egmentation:Company competitive auditb) 2nvironmental analysis:(roduct positioning analysis:)mplementationc) "egmentation:"trengths and ;ea,nesses:)mplementationd) "trategic analysis : "trategic choice : "trategy implementation (2 marks)3'. 2eeming an" la"ing is5 a) . type of team wor, theory b) . procedure for reconciling the cash boo, c) . type of fraud d) . type of internal control (2 marks)3-. A pro"ct orientation is the management )iew that sccess is achie)e" throgh producing goods and services of optimum +uality! )s this statement true or false< ($ mark)3&. (hich one of the following wol" not be fon" within a 8ob "escription? a) (osition in the organisation b) 3emuneration pac,age c) .ttainments d) $uties and responsibilities (2 marks)3/. (hich type of inter)iew s9ers from a high "egree of sb8ecti)ity5 a) "uccessive b) (anel c) =roup d) Face%to%Face (2 marks)3%. (hich is the frst stage of learning in :olb,s learning theory a) 2xperience b) 2xperimentation c) 3e*ection d) >earning can start at any stage (2 marks)44. (hich is the frst stage of learning in :olb,s learning theory a) 2xperience b) 2xperimentation c) 3e*ection d) >earning can start at any stage (2 marks)4$. (hich one of the following is not a metho" of ;onthe 8ob< training5 a) 9entoring b) Training course c) ;or, shadowing d) Coaching (2 marks)42. (hich of the following problems wol" conselling be se" to sol)e5 a) >ac, of /ob satisfaction b) ?ncertain future due to possible redundancies c) Frustration with inability to progress in one@s career d) .ll of the above (2 marks)43. 2he main fnancial statements pro"ce" each year are5a) -alance "heet : )ncome statement : .nnual report and accountsb) (ro&t forecasts : -alance "heet : .nnual report and accountsc) (ro&t warnings to the "toc, 2xchange : -alance "heet : )ncome statementd) Cash *ow statement : -alance "heet : )ncome statement(2 marks)44. 2he main prpose of the acconting fnction is which of the following5a) To advise management on all material &nancial issuesb) To maintain comprehensive accounting records that will enable &nancial statements to be prepared as necessaryc) To produce &nancial statements for internal and external sta,eholders at appropriate intervalsd) To produce &nancial information for decision ma,ing(2 marks)4'. 2he conting an" )alation of stock at the year en" is one of the more problematic acconting areas.)s this statement true or false