Tag: AQA

Accounting Multiple Choice Question – 8 December 2024

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

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The area outside an information systems boundary is known as the?

Select ONE answer:

  1. Location
  2. Setting
  3. Context
  4. Environment

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 4

  1. Not correct
  2. Not correct
  3. Not correct
  4. Correct == > Systems sit within an environmental setting.

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Accounting Multiple Choice Question – 7 December 2024

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

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Alex plc produces monthly variance reports for all its production managers, showing the extent and cause of any variances from the company’s production plans.

These reports enable managers to take corrective action during the following month.

In terms of financial information, these reports can be classified as?

Select ONE answer:

  1. Planning information
  2. Operational information
  3. Tactical information
  4. Strategic information

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

  1. Not correct
  2. Not correct
  3. Correct == > Tactical information (3) helps staff deal with short-term issues and opportunities. Operational information (2) is concerned with day-to-day issues. Strategic information (4) has longer-term concerns than both tactical and operational information. Planning information specifically helps staff involved in the planning process (1).
  4. Not correct

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Accounting Multiple Choice Question – 6 December 2024

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

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Which of the following risks that Alex plc faces should be classified as business risk?

Select ONE answer:

  1. Product risk
  2. Event risk
  3. Process risk
  4. Financial risk

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 1

  1. Correct == > Business risk arises from the nature of the business, its operations, and the conditions in which it operates; this includes strategy, enterprise, and product risks. Financial risk and operational risk, which includes event and process risks, are separate types of risk.
  2. Not correct
  3. Not correct
  4. Not correct

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Accounting Multiple Choice Question – 5 December 2024

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

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Alex plc is concerned about the risk management of its information technology and computer systems function.

The IT systems director, Ted, has suggested that the information systems management function could be wholly outsourced to a third-party provider. 

This action would be a form of?

Select ONE answer:

  1. Risk reduction
  2. Risk transfer
  3. Risk avoidance
  4. Risk retention

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 2

  1. Not correct
  2. Correct == > Alex plc is not retaining the risk by outsourcing (4). The risk still exists so it is not avoided (3), and outsourcing does not necessarily reduce the probability or impact (1). Instead, the risk is transferred (2).
  3. Not correct
  4. Not correct

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Accounting Multiple Choice Question – 4 December 2024

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

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In the risk management process, in which order should the following aspects of risk management proceed?

a Risk response and control
b Risk analysis and measurement
c Risk awareness and identification
d Risk monitoring and reporting

Select ONE answer:

  1. a, b, d, c
  2. c, b, a, d
  3. b, c, a, d
  4. d, b, a, c

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 2

  1. Not correct
  2. Correct == > Following risk awareness and identification (c), the risk manager analyses and measures the risk (b) and assesses how it can be responded to and controlled (a). The risk is then monitored and reported (d).
  3. Not correct
  4. Not correct

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This work is licensed under a Creative Commons Attribution 4.0 International License.