NOV 2019 – Page 19

CSME – Nov 2019 – L2 – Q6c – Ethics in Business

Discusses ethical non-consequentialism with a focus on duty and highlights problems associated with this ethical theory.

Question

Answer

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Tags: Deontological Ethics, Duty Ethics, Non-Consequentialism
Level: Level 2

Topic: Ethics in Business
Series: NOV 2019

CSME – Nov 2019 – L2 – Q6b – Ethics in Business

Discusses the differences between ethical subjectivism and situation ethics.

Question

b) Distinguish ethical subjectivism from situation ethics. (6 Marks)

Answer

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Tags: Business Ethics, Ethical Subjectivism, Situation Ethics
Level: Level 2

Topic: Ethics in Business
Series: NOV 2019

CSME – Nov 2019 – L2 – Q6a – Strategic Planning Process

Defines business strategy and highlights key questions that a five-year business strategy must answer.

Question

(a) Define “business strategy” and highlight EIGHT questions that a five-year business strategy must seek to answer. (5 Marks)

Answer

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Tags: Business Strategy, Organizational Growth, Strategic Planning
Level: Level 2

Topic: Strategic Planning Process
Series: NOV 2019

CSME – Nov 2019 – L2 – Q5b – Corporate Governance

Analyzes the alternative types of board structures and provides arguments for the most viable option.

Question

(b) Analyze the alternative types of board structure that a company might adopt and provide an argument in support of the one you consider to be more viable. (10 Marks)

Answer

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Tags: Board Structure, Corporate Governance, Two-Tier Board, Unitary Board
Level: Level 2

Topic: Corporate Governance
Series: NOV 2019

CSME – Nov 2019 – L2 – Q5a – Risk Management and Corporate Strategy

Outlines a presentation on the functions and determinants of the efficiency of a risk manager.

Question

(a) You are preparing for a job interview as a risk manager. This requires you to make a ten-minute presentation on the functions and determinants of the efficiency of a risk manager.

Required:
Present an outline of your 10-minute presentation. (10 Marks)

Answer

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Tags: Corporate Strategy, Risk Management, Risk Manager Efficiency
Level: Level 2

Topic: Risk Management, Risk Management and Corporate Strategy
Series: NOV 2019

CSME – Nov 2019 – L2 – Q4c – Corporate Social Responsibility (CSR)

Explores the concept of social ecology and its impact on corporate social responsibility.

Question

Answer

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Tags: Corporate Sustainability, Environmental Responsibility, Social Ecology
Level: Level 2

Topic: Corporate social responsibility
Series: NOV 2019

CSME – Nov 2019 – L2 – Q4b – Corporate Social Responsibility (CSR)

Explores the concept of carbon neutrality and its application to corporate operations.

Question

(b) Discuss the concept of carbon neutrality in relation to the operations of companies. (5 Marks)

Answer

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Tags: Carbon Neutrality, Corporate Sustainability, Environmental impact
Level: Level 2

Topic: Corporate social responsibility
Series: NOV 2019

CSME – Nov 2019 – L2 – Q4a – Corporate Social Responsibility (CSR)

Discusses the environmental and social impacts created by organizations in their pursuit of economic wealth.

Question

a) In their quest to create economic wealth, business organizations leave environmental and social footprints.

Required:
Discuss environmental and social footprints of organizations. (10 Marks)

Answer

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Tags: Corporate Social Responsibility, Environmental Footprint, Social Impact
Level: Level 2

Topic: Corporate social responsibility
Series: NOV 2019

CSME – Nov 2019 – L2 – Q3b – Ethical Issues in Corporate Governance

Discusses the application of six principles of the Nolan Committee in public finance management.

Question

(b) The public sector is the driver of the economies of many developing nations. Public Finance Management has become a focus of attention in these economies. Development partners have therefore drawn the attention of governments to the Nolan Committee’s report on Standards in Public Life.

Required:
Discuss SIX of these principles for public office holders and show how they can enhance performance in the public sector. (6 Marks)

Answer

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Tags: Nolan Committee, Public Finance, Public sector governance
Level: Level 2

Topic: Ethical Issues in Corporate Governance
Series: NOV 2019

CSME – Nov 2019 – L2 – Q3a – Corporate Governance

Discusses basic concepts that are essential for good corporate governance and their relation to governance practices.

Question

(a) There are basic concepts that must be observed for good corporate governance in an entity.

Required:
Discuss these concepts and show how they relate to good corporate governance. (14 Marks)

Answer

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Tags: Accountability, Corporate Governance, Fairness, Transparency
Level: Level 2

Topic: Corporate Governance
Series: NOV 2019

FA – Nov 2019 – L1 – SA – Q11- Elements of Financial Statements-

Identify which of the following is not an element of financial statements.

Question

Which of the following is not an element of financial statements?

A. Asset
B. Liability
C. Equity interest
D. Income
E. Profit

Answer

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Tags: Asset, Elements of Financial Statements, Equity, Liability
Level: Level 1

Topic: Elements of Financial Statements
Series: NOV 2019

FA – Nov 2019 – L1 – SA – Q10 – Financial Statements Preparation-

Calculate the working capital of the business.

Question

Calculate the working capital of the business.

The extract from the financial statements of Benchmark Ventures for the year ended September 30, 2019, is as follows:

Capital: N84,000
Net profit: N15,000
Drawings: N9,000
Cash and cash equivalent: N3,000
Accounts payables: N50,000
Inventory: N29,000
Accounts receivables: N35,000

Answer

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Tags: Current Assets, Current Liabilities, Working Capital
Level: Level 1

Topic: Financial Statements Preparation
Series: NOV 2019

FA – Nov 2019 – L1 – SA – Q9 – Financial Statements Preparation

Calculate the current assets of the business.

Question

Determine the amount of the current assets.

The extract from the financial statements of Benchmark Ventures for the year ended September 30, 2019, is as follows:

Capital: N84,000
Net profit: N15,000
Drawings: N9,000
Cash and cash equivalent: N3,000
Accounts payables: N50,000
Inventory: N29,000
Accounts receivables: N35,000

Answer

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Tags: Current Assets, Financial Position, Statement of Financial Position
Level: Level 1

Topic: Financial Statements Preparation
Series: NOV 2019

FA – Nov 2019 – L1 – SA – Q8 – Accounting Treatment for Bad and Doubtful Debts

Calculate the net amount of trade receivables recognized in the statement of financial position.

Question

What is the net amount of trade receivables recognized in the statement of financial position?

The following is an information extract from the books of accounts of Walling Parking Enterprises, a sole trader:

Trade receivables balance for the period: N1,300,000
The chance of collecting 2% of the receivables figure is remote.
It is virtually certain that 95% of the balance of the receivables is collectable.

Answer

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Tags: Accounting Standards, Financial Position, Trade receivables
Level: Level 1

Topic: Bad and Doubtful Debts
Series: NOV 2019

FA – Nov 2019 – L1 – SA – Q7 Accounting Treatment for Bad and Doubtful Debts-

Calculate the allowance for receivables recognized in the statement of profit or loss.

Question

What is the amount of allowance recognized in the statement of profit or loss?

The following is an information extract from the books of accounts of Walling Parking Enterprises, a sole trader:

Trade receivables balance for the period: N1,300,000
The chance of collecting 2% of the receivables figure is remote.
It is virtually certain that 95% of the balance of the receivables is collectable.

Answer

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Tags: Allowances, Bad Debts, Financial Statements, Receivables
Level: Level 1

Topic: Bad and Doubtful Debts
Series: NOV 2019

FA – Nov 2019 – L1 – SA – Q6 Financial Statements Preparation-

Identify which is not a component of financial statements under IAS 1

Question

In accordance with IAS1-Presentation of Financial Statements, which of the following is not a component of financial statements?

Answer

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Tags: Financial Statements, IAS 1, Statement of Financial Position
Level: Level 1

Topic: Financial Statements Preparation
Series: NOV 2019

FA – Nov 2019 – L1 – SA – Q5 – Financial Statements Preparation

Identify what a cash flow statement cannot reveal.

Question

Which of the following information CANNOT be revealed by a statement of cash flow?

Answer

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Tags: Accounting Standards, Cash Flow, Financial Position
Level: Level 1

Topic: Financial Statements Preparation
Series: NOV 2019

FA – Nov 2019 – L1 – SA – Q4 – Accounting Concepts

Identify which change does not affect accounting policy under IAS-8.

Question

In accordance with the requirements of IAS-8 – Accounting Policies, Estimates, and Errors, which of the following changes in method does not give rise to changes in accounting policy?

Answer

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Tags: Accounting Policies, Depreciation, IAS 8
Level: Level 1

Topic: Accounting Concepts
Series: NOV 2019

FA – Nov 2019 – L1 – SA – Q3 Accounting Concepts-

Identify the fundamental accounting assumptions for preparing financial statements.

Question

Which of the following combinations of accounting concepts are the fundamental assumptions in the preparation of financial statements?

Answer

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Tags: Accounting Concepts, Fundamental Assumptions
Level: Level 1

Topic: Accounting Concepts
Series: NOV 2019

FA – Nov 2019 – L1 – SA – Q2 – Recording Financial Transactions, Books of Prime Entry

Identify the book of prime entry where trade discounts are recorded.

Question

In which of the following books of prime entry will trade discount be recorded?

Answer

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Tags: Accounting Process, Books of Prime Entry, Trade Discount
Level: Level 1

Series: NOV 2019

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CSME – Nov 2019 – L2 – Q6c – Ethics in Business

Discusses ethical non-consequentialism with a focus on duty and highlights problems associated with this ethical theory.

You're reporting an error for "CSME – Nov 2019 – L2 – Q6c – Ethics in Business"

CSME – Nov 2019 – L2 – Q6b – Ethics in Business

Discusses the differences between ethical subjectivism and situation ethics.

You're reporting an error for "CSME – Nov 2019 – L2 – Q6b – Ethics in Business"

CSME – Nov 2019 – L2 – Q6a – Strategic Planning Process

Defines business strategy and highlights key questions that a five-year business strategy must answer.

You're reporting an error for "CSME – Nov 2019 – L2 – Q6a – Strategic Planning Process"

CSME – Nov 2019 – L2 – Q5b – Corporate Governance

Analyzes the alternative types of board structures and provides arguments for the most viable option.

You're reporting an error for "CSME – Nov 2019 – L2 – Q5b – Corporate Governance"

CSME – Nov 2019 – L2 – Q5a – Risk Management and Corporate Strategy

Outlines a presentation on the functions and determinants of the efficiency of a risk manager.

You're reporting an error for "CSME – Nov 2019 – L2 – Q5a – Risk Management and Corporate Strategy"

CSME – Nov 2019 – L2 – Q4c – Corporate Social Responsibility (CSR)

Explores the concept of social ecology and its impact on corporate social responsibility.

You're reporting an error for "CSME – Nov 2019 – L2 – Q4c – Corporate Social Responsibility (CSR)"

CSME – Nov 2019 – L2 – Q4b – Corporate Social Responsibility (CSR)

Explores the concept of carbon neutrality and its application to corporate operations.

You're reporting an error for "CSME – Nov 2019 – L2 – Q4b – Corporate Social Responsibility (CSR)"

CSME – Nov 2019 – L2 – Q4a – Corporate Social Responsibility (CSR)

Discusses the environmental and social impacts created by organizations in their pursuit of economic wealth.

You're reporting an error for "CSME – Nov 2019 – L2 – Q4a – Corporate Social Responsibility (CSR)"

CSME – Nov 2019 – L2 – Q3b – Ethical Issues in Corporate Governance

Discusses the application of six principles of the Nolan Committee in public finance management.

You're reporting an error for "CSME – Nov 2019 – L2 – Q3b – Ethical Issues in Corporate Governance"

CSME – Nov 2019 – L2 – Q3a – Corporate Governance

Discusses basic concepts that are essential for good corporate governance and their relation to governance practices.

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FA – Nov 2019 – L1 – SA – Q11- Elements of Financial Statements-

Identify which of the following is not an element of financial statements.

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FA – Nov 2019 – L1 – SA – Q10 – Financial Statements Preparation-

Calculate the working capital of the business.

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FA – Nov 2019 – L1 – SA – Q9 – Financial Statements Preparation

Calculate the current assets of the business.

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FA – Nov 2019 – L1 – SA – Q8 – Accounting Treatment for Bad and Doubtful Debts

Calculate the net amount of trade receivables recognized in the statement of financial position.

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FA – Nov 2019 – L1 – SA – Q7 Accounting Treatment for Bad and Doubtful Debts-

Calculate the allowance for receivables recognized in the statement of profit or loss.

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FA – Nov 2019 – L1 – SA – Q6 Financial Statements Preparation-

Identify which is not a component of financial statements under IAS 1

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FA – Nov 2019 – L1 – SA – Q5 – Financial Statements Preparation

Identify what a cash flow statement cannot reveal.

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FA – Nov 2019 – L1 – SA – Q4 – Accounting Concepts

Identify which change does not affect accounting policy under IAS-8.

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FA – Nov 2019 – L1 – SA – Q3 Accounting Concepts-

Identify the fundamental accounting assumptions for preparing financial statements.

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FA – Nov 2019 – L1 – SA – Q2 – Recording Financial Transactions, Books of Prime Entry

Identify the book of prime entry where trade discounts are recorded.

You're reporting an error for "FA – Nov 2019 – L1 – SA – Q2 – Recording Financial Transactions, Books of Prime Entry"

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