Ai B Kit - ACCA Accountant in Business PDF

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ACCA Accountant in Business...

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ACCA and

FIA ACCADiplomainAccountingand Business(RQFLevel4) AccountantinBusiness(AB) EXAMKIT

AB: ACCOU N TAN TIN B U SIN E SS

             BritishLibraryCataloguing‐in‐PublicationData AcataloguerecordforthisbookisavailablefromtheBritishLibrary. Publishedby: KaplanPublishingUK Unit2TheBusinessCentre MollyMillar’sLane Wokingham Berkshire RG412QZ ISBN:978‐1‐78740‐409‐0  ©KaplanFinancialLimited,2019 PrintedandboundinGreatBritain Thetextinthismaterialand anyothersmadeavailableby any KaplanGroupcompanydoesnot amounttoadviceonaparticularmatterandshouldnotbetakenas such.Norelianceshouldbe placedonthecontentasthebasisforanyinvestment orotherdecision orin connectionwithany advice given to third parties. Please consult your appropriate professional adviser as necessary. KaplanPublishingLimitedandallother Kaplangroupcompaniesexpresslydisclaimallliabilityto any person in respect of any losses or other claims, whether direct,indirect, incidental, consequentialorotherwisearisinginrelationtotheuseofsuchmaterials. Allrightsreserved.Nopartofthisexaminationmaybereproducedortransmittedinanyformor byanymeans,electronicormechanical,includingphotocopying,recording,orbyanyinformation storageandretrievalsystem,withoutpriorpermissionfromKaplanPublishing. Acknowledgements These materials are reviewed by the ACCA examining team. The objective of the review is to ensure that the material properly covers the syllabus and study guide outcomes, used by the examiningteaminsettingtheexams, intheappropriatebreadthanddepth.Thereviewdoesnot ensure that every eventuality, combination or application of examinable topics is addressed by the ACCA Approved Content. Nor does the review comprise a detailed technical check of the contentastheApprovedContentProviderhasitsownqualityassuranceprocessesinplaceinthis respect. P. 2

K AP L ANP U B L ISH IN G

CONTENTS 



Page

Indextoobjectivetestquestionsandanswers



P.5

ExamTechnique



P.7

Examspecificinformation



P.9

Kaplan’srecommendedrevisionapproach



P.11

 

Section 1

Objectivetestquestions

1

2

Multi‐taskquestions

75

3

Answerstoobjectivetestquestions

117

4

Answerstomulti‐taskquestions

159

5

Practicesimulationquestions

175

6

Answerstopracticesimulationquestions

191

7

Specimenpaperquestionsandanswers

201

 

Youwillfindawealthofotherresourcestohelpyouwithyourstudiesonthefollowingsites: www.Mykaplan.co.ukandwww.accaglobal.com/students/           Quality and accuracy are of theutmostimportance to us so if you spot an error in any of our products,pleasesendanemailto[email protected]withfulldetails. OurQualityCo‐ordinatorwillworkwithourtechnicalteamto verifytheerrorandtakeactionto ensureitiscorrectedinfutureeditions. K AP L ANP U B L ISH IN G

P. 3

 INDEXTOOBJECTIVETEST QUESTIONSANDANSWERS PRACTICEQUESTIONS 

Pagenumber Question Answer

Thebusinessorganisation Businessorganisationandstructure

1 3

117 118

Organisationalcultureinbusiness Informationtechnologyandinformationsystemsinbusiness Stakeholders

8 11 13

121 123 124

Externalanalysis–politicalandlegalfactors Externalanalysis–economicfactors

14 17

125 126

Externalanalysis–social,environmentalandtechnologicalfactors Competitivefactors Professionalethicsinaccountingandbusiness

23 25 27

130 131 133

Governanceandsocialresponsibilityinbusiness Lawandregulationgoverningaccounting

30 33

134 137

Accountingandfinancefunctionswithinbusiness Financialsystemsandprocedures

35 37

138 139

Therelationshipofaccountingwithotherbusinessfunctions Auditandfinancialcontrol

40 41

141 141

Fraud,fraudulentbehaviourandtheirpreventioninbusiness Leadership,managementandsupervision Recruitmentandselectionofemployees

45 48 53

143 145 147

Individual,groupandteambehaviour Motivatingindividualsandgroups

57 60

149 150

Learningandtrainingatwork Reviewandappraisalofindividualperformance Personaleffectivenessatwork

63 65 67

152 153 154

Communicatinginbusiness

71

156

K AP L ANP U B L ISH IN G

P. 5

EXAMTECHNIQUE 

Donotskipanyofthematerialinthesyllabus.



Readeachquestionverycarefully.



Double‐checkyouranswerbeforecommittingyourselftoit.



Answer every question – if you do not know an answer, you don't lose anything by guessing.Thinkcarefullybeforeyouguess.



If you are answering a multiple‐choice question, eliminate first those answers that you knowarewrong.Thenchoosethemostappropriateanswerfromthosethatareleft.



Don’t panic if you realise you’ve answered a question incorrectly. Getting one question wrongwillnotmeanthedifferencebetweenpassingandfailing

Computer‐basedexams–tips 

DonotattemptaCBEuntilyouhavecompletedallstudymaterialrelatingtoit.



On the ACCA website there is a CBE demonstration. It is ESSENTIAL that you attempt this beforeyourrealCBE.YouwillbecomefamiliarwithhowtomovearoundtheCBEscreensand the way that questions are formatted, increasing your confidence and speed in the actual exam.



Besureyouunderstandhowtousethesoftwarebeforeyoustarttheexam.Ifindoubt,ask theassessmentcentrestafftoexplainittoyou.



Questions are displayed on the screen and answers are entered using keyboard and mouse. At the end of the exam, you are given a certificate showing the result you have achieved.



TheCBEquestiontypesareasfollows: –

Multiplechoice–whereyouarerequiredtochooseoneanswerfromalistofoptions providedbyclickingontheappropriate‘radiobutton’

–

Multipleresponse–whereyouarerequiredtoselectmorethanoneresponsefrom the options provided by clicking on the appropriate tick boxes(typically choose two optionsfromtheavailablelist

–

Multiple response matching – where you are required to indicate a response to a numberofrelatedstatementsbyclicking onthe’radiobutton’whichcorrespondsto theappropriateresponseforeachstatement

–

Numberentry–whereyouarerequiredtokeyinaresponsetoaquestionshownon thescreen.



Note that the CBE variant of the examination will not require you to input text, although youmayberequiredtochoosethecorrecttextfromoptionsavailable.



You need to be sure you know how to answer questions of this type before you sit the exam,throughpractice.

K AP L ANP U B L ISH IN G

P. 7

EXAM‐SPECIFICINFORMATION THEEXAM FORMATOFTHECOMPUTER‐BASEDEXAM 30compulsoryobjectivetestquestions(2markseach) 16compulsoryobjectivetestquestions(1markeach) 6compulsorymulti‐taskquestions(4markseach) Totaltimeallowed:2hours

Numberofmarks 60 16 24 –––– 100 ––––



Inanyexamtherewillberoughly8or9questionsforeachofthesixmainsyllabusareas



Twomarkquestionswillusuallycomprisethefollowinganswertypes:



(i)

Multiplechoicewithfouroptions(A,B,CorD)

(ii)

Askyoutoselecttwocorrectanswersfromachoiceoffour

Onemarkquestionswillusuallycomprisethefollowinganswertypes: (i)

Multiplechoicewithtwooptions(AorB)

(ii)

Askyoutoselectwhetherastatementistrueorfalse



Fourmarkmulti‐taskquestionswillusuallybesplitintotwoormoreparts.Theycaninvolve anyoftheabove answertypesaswell asselectionofmultipleresponsesfromalist.Expect toseeonemulti‐taskquestiononeachsectionofthesyllabus.



ACCAofficialstatisticshaveshownthatmoststudentsdonotfindtheexamtimepressured

PASSMARK ThepassmarkforallACCAQualificationexaminationsis50%.

DETAILEDSYLLABUS,STUDYGUIDEANDCBESPECIMENEXAM ThedetailedsyllabusandstudyguidewrittenbytheACCA,alongwiththespecimenexam,canbe foundat: accaglobal.com/accountant‐in‐business

K AP L ANP U B L ISH IN G

P. 9

Section1

OBJECTIVETESTQUESTIONS

THEBUSINESSORGANISATION 1

2

3

4

WhichofthefollowingisNOTakeyfeatureofanorganisation? A

Controlledperformance

B

Collectivegoals

C

Socialarrangements

D

Creationofaproductorservice

(2marks)

Whichofthefollowingorganisationsisnormallyfoundinthepublicsector? A

Schools

B

Charities

C

Businesses

(1mark)

Thepublicsectorisnormallyconcernedwith: A

makingprofitfromthesaleofgoods

B

providingservicestospecificgroupsfundedfromcharitabledonations

C

theprovisionofbasicgovernmentservices

D

raisingfundsbysubscriptionsfrommemberstoprovidecommonservices (2marks)

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? A

Specialisation

B

Socialinteractivity

C

Synergy

D

Service

(2marks) 

K AP L ANP U B L ISH IN G

1

AB: ACCOU N TAN TIN B U SIN E SS

5

6

Whichofthefollowingstatementsregardinglimitedcompaniesiscorrect? A

Publiclimitedcompanieshave accesstoa widerpooloffinancethan partnershipsor soletraders

B

Bothpublicandprivatelimitedcompaniesareallowedtosellsharestothepublic

C

Companiesarealwaysownedbymanydifferentinvestors

D

Shareholdersareliableforanydebtsthecompanymayincur

(2marks)

Considerthefollowinglistofdifferentorganisations: (i)

Governmentdepartments

(ii)

Partnerships

(iii)

Charities

(iv)

Companies

Which of these organisations would normally be classified as BOTH a not‐for‐profit organisationANDaprivatesectororganisation?

7

A

(i)and(iii)only

B

(iii)only

C

(i)only

D

(ii)and(iii)only

(2marks)

‘Anorganisationthatisownedanddemocraticallycontrolledbyitsmembers.’ Towhichtypeoforganisationdoesthisdefinitionrelate?

8

A

Charities

B

Non‐governmentalorganisations

C

Co‐operatives

D

Privatelimitedcompanies

(2marks)

Westeros is an organisation which imports computers into country A and sells them the publicinordertomakeaprofit. Itisownedbyfifteenindividualinvestors,eachofwhom ownsanequalnumberofsharesinWesteros.Westerosisnotapubliclimitedcompany. Which of the following is likely to be the most appropriate source of finance for Westeros?

2

A

Centralgovernmentfunding

B

TheexistingownersofWesteros

C

Issueofsharestothepublic

D

Donationsfromthepublic

(2marks)

K AP L ANP U B L ISH IN G...