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a. Agency problems and conflicts are common in all organisations.
Required:
Explain the concept of agency problems and discuss FIVE types of agency conflicts that might exist in an organisation. (8 Marks)
b. Tucker‟s Five Question Model can be employed in training new professional accountants in ethics.
Required:
Explain the issues covered by the Tucker‟s Five Question Model. (7 Marks)
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Find Related Questions by Tags, levels, etc.
a. With the aid of an appropriate diagram, explain how organisations and management structures might change as a business grows using Greiner’s growth model. (10 Marks)
b. Explain briefly the concept of board diversity giving THREE examples of categories of diversity. (5 Marks)
c. Explain THREE benefits of the diversity of the board of a large company. (3 Marks)
d. Discuss TWO limitations of board diversity. (2 Marks)
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Mallam Danladi is a civil servant who has won a sum of one hundred million Naira in a lottery. Being a very conservative person who is averse to risks, Mallam Danladi is contemplating putting the money in a fixed deposit account at an interest rate of 14% per annum or into treasury bills at an interest rate of 18.5% per annum. These two options are considered to be virtually risk-free. Mr. Madoff, a risk consultant, advised him to invest in the production of shea butter, coconut oil, and black soap, with a promise of 52% profit per annum. In an attempt to convince Mallam Danladi to invest in the production of these items, Mr. Madoff tried to educate him on the nature of risks and how to effectively monitor and control them in ways that will ensure that business remains highly profitable.
Required:
a. Explain briefly the nature of risk in business to Mallam Danladi. (2½ Marks)
b. Discuss FOUR distinct means of controlling business risk. (10 Marks)
c. Explain briefly the purpose of monitoring risks in business. (3 Marks)
d. Discuss THREE ways of monitoring risks in business. (4½ Marks)
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Johnson and Scholes suggested that there is a cultural web within an organization.
Required:
a. Discuss the idea of the cultural web and its interrelated elements in a way that would assist a new employee to understand this concept in a business organization. (15 Marks)
b. As a professional accountant, explain any TWO ethical principles or requirements you would consider in deciding whether or not to keep a promise to maintain confidentiality with regards to information acquired from a client in the ordinary course of business. (5 Marks)
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Gbenga Alimi wants to establish a fast food restaurant in Koko, a state in Naijaland. A well-known global fast-food outfit in Naijaland has agreed to give him a franchise to operate the business in the state. However, the franchisor has requested Gbenga to present a viable business plan for assessment.
Required:
a. Outline the contents of a business plan addressing the proposed franchise’s viability. (20 Marks)
b. Use a graphical representation to educate Gbenga on the four stages of the classical product life cycle. (6 Marks)
c. Within an organizational context, distinguish between:
i. Narrow and wide stakeholders
ii. Active and passive stakeholders
(4 Marks)
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Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
The accumulation of external debt is a common phenomenon in developing countries at the stage of development where external resources are needed to bridge budgetary gap.
Required:
a. Explain what is meant by External Debt. (3 Marks)
b. Discuss the causes and likely adverse consequences of the rising level of Nigeria’s total external debt stock. (12 Marks)
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The following information relates to financial statements included in the annual report of Bello Professional Nigeria Limited.
Required
a. Prepare a statement of cash flow for Bello Professional Nigeria Limited for the year ended March 31, 2015, in accordance with IAS 7 using the indirect method. (18 Marks)
b. One of the directors at the annual general meeting suggested that the direct method of preparing cash flows is more useful. Comment on this view, providing your opinion. (7 Marks)
c. IAS 7 allows different classifications in cash flow statements. Explain the classification options for the following items:
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The table below shows the marks (%) scored in QTB by some candidates who wrote the ICAN Professional examination in May 2016 diet:
| Marks % | Number of Candidates |
|---|---|
| 20–29 | 7 |
| 30–39 | 17 |
| 40–49 | 13 |
| 50–59 | 9 |
| 60–69 | 4 |
If the mean mark is 41.7%, calculate the mode and Pearson’s coefficient of skewness. (10 Marks)
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i. The laptops that are purchased by a company have 742 diodes with a life span of five months. These diodes fail on a regular basis according to the following probability distribution:
| Life (months) | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Probability of failure | 0.10 | 0.30 | 0.35 | 0.20 | 0.05 |
If the cost of replacing a diode is ₦100, calculate the monthly cost of replacing the diodes as they fail. (4 Marks)
ii. Tadet, a student in the Accountancy Department of a Polytechnic, has the following chances of receiving money from her relatives:
Determine if Tadet will be able to buy a gown worth ₦8,000 from the money she is expecting from her relatives. (6 Marks)
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Two Chartered Accountants: X and Y, were requested to rank ten banks A, B, C, D, E, F, G, H, I, J according to their performances during a financial year. X ranked the banks as follows:
Calculate the Spearman’s rank correlation coefficient between X and Y and interpret your result.
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Given the following inequalities:
i. Graph them on the same graph sheet using the following scales: On x and y-axes, let 1 cm represent 250 units. (6½ Marks)
ii.
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i. Given the following initial basic tableau of a transportation problem:
Identify the non-basic variables and compute their corresponding
relative cost coefficients. (4marks)
ii. A bag contains 39,800 white disks and 200 black disks from which
1,000 disks are taken at random. Calculate the probability that the
sample contains 4 black disks. (6marks)
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a. A fleet of lorries A, B, and C are loaded with blocks meant for a building site.
Lorry A carries 2/5 of all the needed blocks, B carries 3/4 of what lorry A carries, and lorry C carries the rest. Lorries A, B, and C contain 13%, 15%, and 11% damaged blocks, respectively.
By drawing a suitable tree diagram, calculate:
i. The proportion of damaged blocks in the fleet. (8 Marks)
ii. The probability of randomly taking a damaged block from lorry B. (2 Marks)
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The table below gives the scores of seven candidates in Quantitative Techniques in Business (QTB) and Financial Accounting (FA) of ICAN Professional Examination:
| QTB Marks (y) | 50 | 72 | 36 | 64 | 52 | 56 | 80 |
|---|---|---|---|---|---|---|---|
| FA Marks (x) | 38 | 51 | 19 | 53 | 39 | 38 | 66 |
You are required to:
i. Obtain the regression equation if the mark in QTB is regressed on FA. (6 Marks)
ii. Obtain the estimate of mark in QTB, if the mark in FA is 60. (2 Marks)
iii. Obtain the estimate of mark in FA, if the mark in QTB is 75. (2 Marks)
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Find Related Questions by Tags, levels, etc.
i. The monthly expenditure (₦’000) of a household on some items are given as follows:
| Item | Expenditure (₦’000) |
|---|---|
| Food | 50 |
| Transport | 25 |
| Utilities | 35 |
| Miscellaneous | 10 |
Determine the angle which will represent each item on a pie chart. (6 Marks)
ii. The activities needed to complete a project with their durations (in weeks) are given below:
| Activity | Preceding Activity | Duration (weeks) |
|---|---|---|
| A | – | 4 |
| B | – | 6 |
| C | A | 8 |
| D | B | 12 |
| E | B | 11 |
| F | C, D | 9 |
You are required to draw the activity-on-arrow network diagram for the project and determine the duration of the project. (4 Marks)
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