Professor, please help me with these
Which of the FOUR of the following ethical safeguards are typically put in place by professional accountancy bodies?
A Setting of professional standards
B Creation of internal business complaint procedures
C Professional monitoring and disciplinary procedures
D Ethics training for all professional accountants
E Creation of ethical cultures in organisations
F Ensuring openness and transparency between organisations and their stakeholders
G Creation of corporate governance requirements
Answer is A,C,D,G. I did ACDH. I am confused with G and H.
(2) According to Porter's five forces model, which TWO of the following indicate there is a low threat of new entrants to the market?
A Low capital requirements
B Patents exist on major product lines
C Access to distribution channels is not restricted
D Large numbers of suppliers of raw materials
E Low switching costs for customers
F Existing firms in the market are large
G Rapidly expanding market
Answer is B and F. I did A, C. Can you please help me with this question entirely.
(3) A Ltd needs to make a rapid decision about the launch of a new product and is considering whether to set up a committee to investigate this. Which of the following statements is correct with regards to A's decision?
A Committees tend to be slow at making decisions, meaning it may be inappropriate for A in this situation.
B Committees ensure that all the individuals involved are held responsible for the decision that the committee makes.
C Committee members usually attend committee meetings full time, meaning that their normal work-load may suffer.
Answer is A. What makes B wrong?
(4) If a government increased its expenditure and reduced levels of taxation the effect would be to reduce/stimulate/increase* demand in the economy and to reduce/stimulate/increase* the size of the Public Sector Net Cash Requirement (PSNCR).
Which words correctly complete this statement?
*delete as appropriate
Answer is Stimulate and Increase. I did Increase and Increase.
What is difference between two?
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Mock Question
4y ago#1Please use a new posting and heading for each question.
Q1 There is no H. G is wrong because accountancy bodies do not establish governance requirements.
4y ago#2Q2. Low threat of new entrants means there are barriers to entry. Low capital requirements means it is relatively easy to set up. Open distribution channels makes entry easy too.
A patent could stop entry if you are not allowed to use it. Large competitors have lots of resources ans economies of scale and they could crush new entrants.
4y ago#3Q3 B is a characteristics of committees, but has nothing to do with the rapid decision mentioned in the question
4y ago#4Q4 The first one is a bit nit-picking. There is not much difference between increase and stimulate. I suppose it could be argued that stimulating the economy means people will increase their expenditure, hence e in crease demand, but I wouldn't worry about that too much,.
The second one you are, of course correct.
Professor, sorry I missed this. This is last option of Question 1.
(H) Creation of corporate codes of ethics.
I did this.
Thank you professor for all the remaining answers. :)
Last thing, just see whether (H) is correct or wrong.
4y ago#7Accountants don't do that, the company looks after its ethics.
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