F2_ACCA英国注册会计师考试试题及答案P15-新东方在线职业题库

If a single sum of $12,000 is invested at 8% per annum with interest compounded quarterly, what is the amount to which the principal will have grown by the end of year three? (approximately)

A

$15,117

B

$9,528

C

$15,219

D

$30,924

A bank offers depositors a nominal 4% pa, with interest payable quarterly. What is the effective annual rate of interest?

A

1%

B

4%

C

1.025%

D

4.06%

Which of the following BEST describes the purpose of a flexible budget?

A

To ensure managers are motivated

B

To facilitate control by establishing a budget relevant to actual activity levels

C

To facilitate control by preventing discretionary expenditure

D

To enable accurate reforecasting when actual costs are known

The following statements relate to fixed budgets and flexible budgets.

(i) If production levels far exceed those anticipated, relying on a fixed budget is likely to result in massive variances

(ii) Flexible budgets assist management control by providing dynamic, comparable information

(iii) Flexible budgets are always superior to fixed budgets Which statements are true?

A

(i) only

B

(i) and (ii) only

C

(ii) and (iii) only

D

(i), (ii) and (iii)

articiPpation by staff in the budgeting process is often seen as an aid to the creation of a realistic budget and to the motivation of staff. There are, however, limitations to the effectiveness of such participation. Which of the following illustrates one of these limitations?

A

Participation allows staff to buy into the budget

B

Staff suggestions may be ignored leading to de-motivation

C

Staff suggestions may be based on local knowledge

D

Budgetary slack can be built in by senior manager as well as staff

Which of the following statements about budgeting and motivation are true?(i) A target is more motivating than no target at all(ii) The problem with a target is setting an appropriate degree of difficulty(iii) Employees who are challenged tend to withdraw their commitment

A

All of them

B

(ii) and (iii) only

C

(i) and (ii) only

D

(iii) only

Which of the following best describes a top-down budget?

A

A budget which has been set by scaling down individual expenditure items until the total budgeted expenditure can be met from available resources

B

A budget which is set by delegating authority from top management, allowing budget holders to participate in setting their own budgets

C

A budget which is set without permitting the ultimate budget holder to participate in the budgeting process

D

A budget which is set within the framework of strategic plans determined by top management

In which of the following situations would the use of imposed budgets NOT be appropriate?

A

In times of crisis, when the organisation’s survival is at stake

B

During periods of economic hardship, when ‘every cent counts’

C

In a very small business

D

In a large organisation with a flat management structure and ‘empowered’ employees

In which of the following circumstances is the use of a participative budgeting process appropriate?(i) In decentralised organisations(ii) When acceptance of the budget as fair and equitable is essential(iii) When an organisation's different units act autonomously

A

All of (i), (ii) and (iii)

B

(ii) and (iii) only

C

(i) and (ii) only

D

(iii) only

Which of the following best describes a controllable cost?

A

A cost which can be easily forecast and is therefore readily controllable using budgetary control techniques

B

A cost which can be specifically identified with a particular cost object

C

A cost which is easily controlled because it is not affected by fluctuations in the level of activity

D

A cost which can be influenced by its budget holder

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