Tag: Management

Accounting Multiple Choice Question – 25 May 2025

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

Photo by Olya Kobruseva on Pexels.com

Big Staffie plc is listed but is outside the FTSE 350.

This means that, according to the UK Corporate Governance Code, the minimum number of independent non-executive directors that
should sit on the company’s board is?

Select ONE answer:

  1. One
  2. Two
  3. Three
  4. Variable as it depends on the total number of people on the board

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 == > This is set out in provisions supporting main principle B1 (effectiveness: the composition of the board) of the Code.
  3. Not correct
  4. Not correct

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

Accounting Multiple Choice Question – 24 May 2025

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

Photo by Pixabay on Pexels.com

On which of the fundamental accounting principles are the directors of a company expected to report in the company’s annual financial statements?

Select ONE answer:

  1. The going concern status of the company
  2. The materiality of specific transactions
  3. The accruals approach to accounting
  4. The consistency of treatment of items or transactions

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 == > The directors must state that the financial statements are prepared on the going concern basis, if this is the case. They must also state whether there are any material uncertainties about the company’s ability to continue as a going concern for at least 12 months from the date of approval of the financial statements.
  2. Not correct
  3. Not correct
  4. Not correct

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

Accounting Multiple Choice Question – 23 May 2025

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

apple devices books business coffee
Photo by Serpstat on Pexels.com

Little Staffie plc is a small listed company outside the FTSE 350.

Consequently, the company?

Select ONE answer:

  1. Must comply with all the requirements of the UK Corporate Governance Code
  2. Is governed by other corporate governance regulations than the UK Corporate Governance
  3. Can be flexible in how it applies the UK Corporate Governance Code
  4. Is not affected by the requirements of the UK Corporate Governance Code

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 == > The company can be flexible in how it applies the UK Corporate Governance Code. Non-FTSE 350 companies may depart even from the main principles in particular circumstances provided their non-compliance is explained (1). The company will be expected to adhere to the requirements of the Code by virtue of being listed (2) and (4).
  4. Not correct

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

Accounting Multiple Choice Question – 22 May 2025

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

Photo by Nataliya Vaitkevich on Pexels.com

Alex has become aware of theft from his employer, Big Staffie plc, by one of its directors.

Alex wishes to bring this to the attention of the company but is not aware of how to do so in line with the UK Corporate Governance Code.

Who within a company is responsible for reviewing arrangements by which staff may, in confidence, bring matters such as this to the attention of the company?

Select ONE answer:

  1. The company chairman
  2. The board of directors
  3. The non-executive directors
  4. The audit committee

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 == > This is set out in provisions supporting C3 (accountability: audit committee and auditors) of the Code.

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

Accounting Multiple Choice Question – 21 May 2025

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

apple devices books business coffee
Photo by Serpstat on Pexels.com

Big Staffie plc is planning its forthcoming annual general meeting.

As part of this process the chairman of the company should arrange for which, if any, of the following committees to be represented by their chairman at the meeting?

Select ONE answer:

  1. Audit
  2. Audit and Remuneration
  3. Audit, Remuneration and Nomination
  4. None of these

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 == > This is set out in provisions supporting main principle E2 (relations with shareholders – constructive use of the AGM) of the Code.
  4. Not correct

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