ACUTE ACCA FIA mock F1 ACCA f1 fia mock Edition: 2012-2013 For more free acca Resources

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QUESTION:1
ALAN IS AN AUDITOR WHO HAS DISCOVERED A SUSPECTED SERIOUS FRAUD AT A CLIENT BUSINESS TO WHICH TWO OF THE FOLLOWING SHOULD ALAN REPORT THIS FRAUD? A.SHARE HOLDER B.THE POLICE C.THE AUDIT COMMITTEE D.THE MANAGEMENT

QUESTION:2
BOGDAN HAS JUST COMPLETED AN EVALUATION OF THE CURRENT TRAINING AND DEVELOPMENT NEEDS OF EACH MEMBER OF HIS DEPARTEMENT AND HAS AGREED WITH THEM INDIVIDUAL objectives aimed at meeting these needs over the next six months. Which type of evaluation has Bogdan just completed? A.PERSON SPECIFICATION B.PERSONAL COUNSELLING C.JOB ANALYSIS D.PERFORMANCE APPRAISAL

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ACCA F1 FIA MOCK 2012 2013

PRODUCTION 3.SALES A.1 AND 2 ONLY D.QUESTION:3 The management accountant is discussing the potential impact of a deep price cut on the highest selling product of the company. Guiding a learner through a work experience plan C.2 AND 3 C. Which other department would to be consulted about this discussion? 1.tk . Providing quality controls for new workers FOR MORE FREE ACCA RESOURCES VISIT: www.2 AND 3 ONLY QUESTION:4 WHICH TWO OF THE FOLLOWING ACTIVITIES SHOULD BE CARRIED OUT BY A MENTOR? A. Managing and controlling a new employee D. Helping to draw out personal development plan B.PURCHASING 2.1.acuteacca.1 AND 3 ONLY B.

1 and 2 only C.tk . 1 and 3 only D. 2 and 3 only B. which choice of action is it required to undertake? Inform the external auditor Inform the appropriate regulatory authorities T/F T/F FOR MORE FREE ACCA RESOURCES VISIT: www. Under present international regulation.Question:5 Which of the following are financial accounting tasks? 1.2 and 3 Question:6 Banks obtain a major source of funds from individuals opening up bank accounts. Classifying 2.acuteacca. communicating A. summarising 3. when a company suspects that it has encountered a transaction which involves money laundering. 1.

They should contribute to strategy and take part in board decisions C. They should be rewarded using option schemes D. Eric and Dev FOR MORE FREE ACCA RESOURCES VISIT: . Kendo only D. Dev is a consultant working for a company that advises Hadronix on advanced technology for detecting hazardous gases. Asri C. Their term of office should bee open ended B. Kendo is an account manager for an advertising agency which promotes Hadronix products. They should not take part in day to day running of the company Question:8 Hadronix co. Asri leads a group who have become shareholders in Hadronix in order to influence the company’s ethical policy. Dev and Kendo B. Which of the following people have/has an external stakeholder role in Hadronix Co? A. Eric is the head of the research and development department. which two of the following are recommendations of best practices in effective corporate governance? A. Designs and makes security equipment.Question: 7 In relation to non-executive directors.

acuteacca. They formally define job roles B. They are always explicitly defined . The internal auditors Question:10 Which of the following are recognized as he features of group norm? A. The finance director D.tk question:9 Tyrad Co has recently been formed. They define acceptable behaviours D. The board of directors C. Its owner are uncertain as to who is legally responsible for maintaining proper records and safeguarding the assets of the company Which of the following has these legal responsibilities? A. They always reinforce formal structures C. The external auditors B.www.

acuteacca. Functional Question:12 What is the term used to describe incentive scheme based on output. calculated as a fixed price per item produced within a standard unit of time? A. Product B. Merit rating B.tk Question:11 An organization is structured in such a way that individuals have dual reporting lines-they report to a manager for their product line and to a regional area manager. Promotion D. Payment by results C. Which of the following describes this organizational structure? A. Geographical D.FOR MORE FREE ACCA RESOURCES VISIT: www. Matrix C. Profit sharing .

1. The organisation will have a lower staff turnover ratio C. 2. 2. 1. 4. The organisation will have lower recruitment costs B.3 C.tk Question: 13 Many organizations strive to ensure that they have a fully diverse workforce to allow them to complete in the fast changing business environment.acuteacca. 3. Which of the following is a benefit to an organisation of operating a diversity policy in recruitment? A.2 . The organisation will have more senior management positions D. The organisation will be able to access a potentially wider pool of talent Question: 14 Which of the following are monitory policy instruments? 1.FOR MORE FREE ACCA Resource VISIT: www. 1.3 D. Government expenditure Interest rates special deposits Exchange rates and 4 and 4 and 4 and 3 A.2 B.

tk FOR FREE ACCA RESOURCES VISIT: www. Project steering committee B. To improve working conditions C.acuteacca. To improve specialist job opportunities B. Finance committee .acuteacca. To increase control over operations Which of the following is a prime motive for a company to outsource? Question: 17 Which of the following is an ‘ad hoc’ committee? A. To cost reduction and efficiency D.Question: 15 Are the following statements true or false related to the directors of an organisation? They are accountable to shareholders They must be full time employees in organisation T/F T/F www.tk Question: 16 A.

Cost leadership Question: 20 . Resources efficiency D. Remuneration committee Question: 18 Do the following statements characterise an effectively functioning group? Communication is leader. Customer focus B.tk FOR MORE FREE ACCA RESOURCES VISIT: www.acuteacca. Standing committee D.tk Question: 19 Which of the following is an example of a generic strategy outlined by Porter? A. Quality control C.acuteacca.C.centred Member adopt to a role that works for them and the group YES/NO YES/NO www.

to fill the vacancies that are available. Increasing the number of university places D. Frictional unemployment B.tk Question: 22 Which of the following is an example of an informal group? A. A reduction personal taxation Question: 21 In the short term. Cyclical unemployment FOR MORE FREE ACCA RESOURCES VISIT: www. Seasonal unemployment D.acuteacca. Structural unemployment C. those seeking employment are not always in the right place. Raising the retirement age C. Subsidized nursing care B. Which of the following types of unemployment does this phenomena describe? A. Health and safety executive .Which two of the followings are example of a government policies designed to deal with an increasingly ageing population? A. or may not have the right skills.

Trade union D.tk Question: 24 Which of the following are advantages of a business organization? .tk FOR MORE FREE ACCA RESOURCES VISIT: www. People should be recognized as equal in value D. according to Bennis? A. Interest groups Question: 23 Which of the following describes the leadership quality of magnanity. Non executive directors C. and personal responsibility should be taken for failure FOR MORE FREE ACCA RESOURCES VISIT: www.B.acuteacca. All people should be recognized as equal in value B.acuteacca. People should be credited for their success. Leader should listen to people C.

1.3 and 4 B.1. 4. To clarify operational goals D. Task coordination between departments C. and to report the management whether the policies were adequate and were working effectively.2. 3. 2. recently he was asked to examine the policies of the purchasing department.3 and 4 D. To direct subordinates B. Operational audit ______________________________________________________________________ . Value for money audit C. System audit B. Transactions audit D. 1. 1 and 3 only Question: 25 For which of the following is horizontal communication used? A. To enable functional specialization To increase control by the owner To allow knowledge sharing To facilitate expansion A. Feedback to management from employees Question: 26 Jim works for the internal auditor department of KL Co. 2 and 4 C. What type of audit has Jim asked to perform? A.

Statement of ethical principals B. Task loading C.FOR MORE FREE ACCA RESOURCES VISIT: www. Corporate value statements Question: 29 . Activity scheduling B.acuteacca. Task sequencing D. Terms of employment D. List of acceptable and unacceptable conduct C.tk Question: 27 Which basic step in work planning involves allocating work to people and machines? A. Time scheduling Question: 28 Which of the following are typically included in a corporate code of ethics? A.

Coordinator D. but sometimes ignores details and is often too Preoccupied to communicate effectively.ACUTEACCA. Plant WWW.ACUTEACCA. She solves difficult problems. Specialist C. imaginative and takes a strategic approach.A member of the team is creative.TK FREE ACCA RESOURCES FREE ACCA MATERIAL PLEASE VISIT: WWW. Shaper B.TK IF YOU WANT MORE F1 . Which of Belbin’s team roles is being described above? A.

MOCKS+BOOKS+NOTES+PAST PAPERS +GUESS PAPERS+REVISION MOCKS+ FINAL ASSESSMENTS AND MANY MORE…. to help with the increasing workload of the accounting function. Which of the following established categories of ethical behaviour does this represent? A. . Openness D. Empowerment C. a treasurer and a management accountant. a financial controller.TK Question: 30 A company is transparent in its communications with the outside world.ACUTEACCA. Accountability B. has recently employed three managers. Trust Question: 31 The financial director of ACUTEACCA Co. THEN VISIT WWW.

tk Question: 32 Which of the following is a key dimension in Hofstede’s model of national cultures? A. Uncertainly distance B.acuteacca. Cost accounting FOR MORE FREE ACCA RESOURCES VISIT: www. Power avoidance Question: 33 . Cash flow control B. Uncertainly avoidance D. Power collectivism C.Which two of the following responsibilities will be assigned to the management accountant? A. Investment appraisal of projects D. Raising funds by borrowings C.

where the person is learning something new? A. the finance director. D. B owns 1% shares and plays no part in the management . Observation and reflection D. Ms C is the representative of the trade union.ACUTEACCA. is highly valued by the company but is about to retire and plays little part in management.however.TK Question: 34 ACUTEACCA. . Concepts and generalisations B.90% of the shares are owned by Ms A. Mr.TK is a private company. In recent times the trade union has taken frequent industrial action.THEN VISIT WWW. Concrete experiences C.Which of the following describes the first stage of Kolb’s learning cycle. who is also an executive with the company. Mr. Concepts in new situations IF YOU WANT MORE F1 MOCKS+BOOKS+NOTES+PAST PAPERS +GUESS PAPERS+REVISION MOCKS+ FINAL ASSESSMENTS AND MANY MORE…. he attends every annual general meeting and is enthusiasific about the company affairs.

According to Mendelow’s framework. The assets of the business are safeguarded. She generates goods . D B.acuteacca. B C. NO FOR MORE FREE ACCA RESOURCES VISIT: www. Ms A Question: 35 Do the financial control procedure exist specifically to ensure the following? YES Financial transactions are properly recorded. Mr. Mr. Ms C D.tk ACUTE F1 FIA MOCK 2012-2013 Question: 36 Teri has the task of checking the accuracy of delivery notes relating to raw materials used in her company’s manufacturing processes. which of the stakeholders should be ‘kept informed’? A.

received notes and answers queries from colleagues on the quality standards and availability of raw materials. Three of the five people benefit from good working relationship.tk Question: 38 . however. Are the phrases below correct interpretations of the situation described? YES Conflict avoidance Conflict referral NO www. Production Question: 37 Marvis is a team leader working in the finance directorate of a charitable organization. She also manages a team of five people. Marvis has decided to bring in the human resources department to deal with the issue. Two of the team.acuteacca. Marketing B. In which of the following business functions is Teri working? A. Procurement C. seem to be constantly battling with each other. Accounting D.

customer pays B. Customer pays. after the order has been received? A. 4. Goods dispatched. customer pays C.tk . customer pays. goods dispatched Question: 39 Why is jargon in a message a barrier to effective communication? A. Inappropriate method of communication Question: 40 Which of the following could lead to increased risk of fraud and errors in the recorded purchases figure? 1. Centralised ordering system Not getting detailed price quotations Recording invoices for goods not yet received Decentralised purchasing system www. goods dispatched.In which order do the main components of the sales cycle usually take place with respect to credit transactions. 3. Goods dispatched. 2. invoice sent. Invoice sent. Inappropriate feedback C.acuteacca. invoice sent D. invoice sent. Inappropriate use of language D. Informal overload B.

ACUTEACCA. Branding products D.Question: 41 Organisation contain many different departments. Interest expense paid B. Repayment of share capital D. Improving existing products B. Accruals FOR MORE FREE ACCA MATERAILS! WWW. Designing new products C.TK . Depreciation of non-current assets C. The research and development department at a large toy manufacturer is primarily concerned with which TWO of the following activities? A. each with their roles designed to support the activities of the business. Promoting products Question: 42 Which two of the following items could appear in a company’s statement cash flows? A.

Are the following statements about Jkl Co true or false? TRUE Buying locally grown organic produce will reduce Jkl’s Impact on the environment Limiting Jkl Co’s damage to the environment is likely to Improve its efficiency FALSE Question: 44 Which of the following are responsible for health and safety in workplace? 1. The employer A.Question: 43 Jkl Co is a restaurant chain. 2 only WWW. The employee 2. Neither 1 nor 2 C. 1 only B. 1 and 2 D.ACUTEACCA.TK .

Scepticism that challenges conventional thinking B. between them. The chief executives of the two companies meet a conference and have a private meeting at which they make several agreements. Dominating discussions at meeting Question: 46 Are the following key tasks of operational supervisors? YES Motivating employees Formulating strategy NO Question: 47 ACUTE Co and Ideal Co are competitors in the oil industry who. have a 90% market share. Passive acceptance of decisions D. An agreement to develop join technology for future use B.Question: 45 Which two of the following are examples of ineffective behaviour in the workplace? A. An agreement to transport oil across a shared pipeline C. An agreement to commence research into environment issues . Which of the following agreements would represent unethical business practice? A. An agreement to set prices at a particular level D. Being free and open when communicating C.

Which part of the organization consists of analysts that design systems and processes? A. Support staff WWW. Credit controls Question: 49 Mintzberg’s organizational configurations model decomposes the organization into six basic parts. Operational core B.ACUTEACCA. Techno structure C. Middle line D.Question: 48 Which of the following instruments is used as part of fiscal policy? A. Interest rates D.TK . Exchange rates B. Government spending C.

There is a high turnover of staff so many staff are new. Derek. 2. What features of ABC Co increase the risk of fraud? 1. 4. High staff turnover Derek is unqualified Derek has never taken holidays lack of segregation of duties [receivable and cashier] . He is mainly responsible for maintaining receivables and also act as the cashier. has been with the company for five years. with the exceptions of Derek. an unqualified accountant. During that time he has dedicated himself to his job and never even taken any holidays.Question: 50 ABC Co has an accounting department with four staff. 3.

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