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Question relative with financial

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA BT – FIA FBT › Question relative with financial

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by Ken Garrett.
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    Posts
  • October 24, 2015 at 6:51 am #278663
    leeming963
    Member
    • Topics: 26
    • Replies: 7
    • ☆

    I am confused with two questions following below list :-

    1) Which group bears the financial risk in a private limited company
    A) Director
    B) Shareholders
    C) Managers
    D) Employees

    In this question, I cannot identify A and B, because these also include in company’s financial.

    2) Which of the following are financial accounting tasks
    i) Classifying
    ii) Summarizing
    iii) Communicating

    The Communicating should be taken into account for financial accounting tasks ?

    October 24, 2015 at 7:09 am #278664
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10194
    • ☆☆☆☆☆

    Q1 The shareholders stand to lose their investment if a company fails. Of course all the others lose their jobs so experience some risk, but I don’t think that is what the question is getting at.

    Q2 I would include ‘communicating’ because financial accountants prepare the financial statements and these tell shareholders how the company did.

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