Series: MAY 2015

Search 500 + past questions and counting.

  • Filter by Professional Bodies

  • Filter by Subject

  • Filter by Series

  • Filter by Topics

  • Filter by Levels

  • Filter by Professional Bodies

  • Filter by Subject

  • Filter by Series

  • Filter by Topics

  • Filter by Levels

  • 20 Marks

BMF – May 2015 – L1 – SB – Q6 – Basics of Business Finance and Financial Markets

Describe the Boston Consulting Group (BCG) matrix used for business portfolio management.

Describe the Boston Consulting Group (BCG) matrix.

The Boston Consulting Group (BCG) matrix is a model by which businesses are
classified in relation to market growth and relative market share.
The strategy of each business is determined on the basis of the following factors:
(i) The growth rate of its market
(ii) The market share it enjoys

The matrix can be depicted by the following quadrant:

b. Product-Market Strategies:

i. Stars:
Stars operate in high-growth markets and dominate their sectors. They require substantial investment to maintain market position but promise high returns. The recommended product-market strategy is to continue heavy investment in advertising, promotion, and product development to ensure growth in market share and revenue.

ii. Question Marks (Problem Children):
These products operate in high-growth markets but have low market share. They create opportunities for long-term growth but need significant cash investments. The suggested strategy is to either invest heavily to turn them into stars or divest if the market position does not improve. This may involve strategic decisions like harvesting or liquidation.

iii. Cash Cows:
These products have high market share in low-growth markets. They generate consistent cash flows but offer limited growth opportunities. The strategy is to maintain or consolidate their position, using their revenue to fund other areas of the business that require investment (such as Stars or Question Marks).

iv. Dogs:
Dogs have low market share in low-growth markets, providing little to no profit potential. The strategy is often to divest or liquidate these products, as they are not worth the continued investment given their bleak future.

c. Weaknesses of the BCG Matrix:

  1. The model ignores the synergies between different business units, which can affect overall profitability.
  2. High market share does not always guarantee profitability, as it depends on other factors such as cost structure and competitive advantage.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SB – Q6 – Basics of Business Finance and Financial Markets"

  • 20 Marks

BMF – May 2015 – L1 – SB – Q6 – Basics of Business Finance and Financial Markets

Describe the Boston Consulting Group (BCG) matrix used for business portfolio management.

Describe the Boston Consulting Group (BCG) matrix.

The Boston Consulting Group (BCG) matrix is a model by which businesses are
classified in relation to market growth and relative market share.
The strategy of each business is determined on the basis of the following factors:
(i) The growth rate of its market
(ii) The market share it enjoys

The matrix can be depicted by the following quadrant:

b. Product-Market Strategies:

i. Stars:
Stars operate in high-growth markets and dominate their sectors. They require substantial investment to maintain market position but promise high returns. The recommended product-market strategy is to continue heavy investment in advertising, promotion, and product development to ensure growth in market share and revenue.

ii. Question Marks (Problem Children):
These products operate in high-growth markets but have low market share. They create opportunities for long-term growth but need significant cash investments. The suggested strategy is to either invest heavily to turn them into stars or divest if the market position does not improve. This may involve strategic decisions like harvesting or liquidation.

iii. Cash Cows:
These products have high market share in low-growth markets. They generate consistent cash flows but offer limited growth opportunities. The strategy is to maintain or consolidate their position, using their revenue to fund other areas of the business that require investment (such as Stars or Question Marks).

iv. Dogs:
Dogs have low market share in low-growth markets, providing little to no profit potential. The strategy is often to divest or liquidate these products, as they are not worth the continued investment given their bleak future.

c. Weaknesses of the BCG Matrix:

  1. The model ignores the synergies between different business units, which can affect overall profitability.
  2. High market share does not always guarantee profitability, as it depends on other factors such as cost structure and competitive advantage.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SB – Q6 – Basics of Business Finance and Financial Markets"

  • 5 Marks

BMF – May 2015 – L1 – SB – Q5b – Management, Individual, and Organisational Behaviour

Discuss hygiene factors and motivators in Herzberg’s two-factor theory.

Write briefly on the following:
i. Hygiene factors
ii. Motivators

i. Hygiene Factors: These are factors that can lead to dissatisfaction in the workplace if they are absent or inadequate, but their presence does not necessarily create satisfaction. They include aspects like working conditions, salary, company policies, job security, and relationships with supervisors and colleagues. Inadequate hygiene factors result in employee dissatisfaction, but improving these factors alone will not boost job satisfaction.

ii. Motivators: These are factors that positively influence job satisfaction and encourage employees to improve performance. They include recognition, responsibility, opportunities for advancement, achievement, and personal growth. Unlike hygiene factors, motivators directly impact an employee’s level of job satisfaction and contribute to higher levels of performance and motivation.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SB – Q5b – Management, Individual, and Organisational Behaviour"

  • 5 Marks

BMF – May 2015 – L1 – SB – Q5b – Management, Individual, and Organisational Behaviour

Discuss hygiene factors and motivators in Herzberg’s two-factor theory.

Write briefly on the following:
i. Hygiene factors
ii. Motivators

i. Hygiene Factors: These are factors that can lead to dissatisfaction in the workplace if they are absent or inadequate, but their presence does not necessarily create satisfaction. They include aspects like working conditions, salary, company policies, job security, and relationships with supervisors and colleagues. Inadequate hygiene factors result in employee dissatisfaction, but improving these factors alone will not boost job satisfaction.

ii. Motivators: These are factors that positively influence job satisfaction and encourage employees to improve performance. They include recognition, responsibility, opportunities for advancement, achievement, and personal growth. Unlike hygiene factors, motivators directly impact an employee’s level of job satisfaction and contribute to higher levels of performance and motivation.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SB – Q5b – Management, Individual, and Organisational Behaviour"

  • 15 Marks

BMF – May 2015 – L1 – SB – Q5a – Management, Individual, and Organisational Behaviour

List and explain the five levels of human needs as per Maslow’s hierarchy.

List and explain the FIVE general types of human needs in ascending order.

  1. Physiological Needs: These are the basic survival needs for human life, such as food, water, shelter, air, and clothing. In an organizational context, these are equated to adequate salary, heat, and air to ensure employees’ survival and well-being.
  2. Safety Needs: Once physiological needs are met, individuals seek protection and security, both physically and psychologically. In the workplace, this relates to job security, safe working conditions, and a stable environment free from physical harm.
  3. Belongingness/Social Needs: After safety, individuals look for social connections, love, and belonging. In an organization, this refers to forming relationships with colleagues and feeling accepted as part of a team. Employees value a friendly work environment and camaraderie among coworkers.
  4. Esteem Needs: These involve the need for recognition, respect, and self-esteem. Employees strive to achieve recognition for their work, which can be fulfilled through awards, promotions, or being acknowledged as valuable team members.
  5. Self-Actualization Needs: The highest level, where individuals strive to realize their full potential. In the workplace, this involves opportunities for personal growth, creativity, and achieving career goals. Managers can help employees meet these needs by providing challenging tasks and encouraging innovation.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SB – Q5a – Management, Individual, and Organisational Behaviour"

  • 15 Marks

BMF – May 2015 – L1 – SB – Q5a – Management, Individual, and Organisational Behaviour

List and explain the five levels of human needs as per Maslow’s hierarchy.

List and explain the FIVE general types of human needs in ascending order.

  1. Physiological Needs: These are the basic survival needs for human life, such as food, water, shelter, air, and clothing. In an organizational context, these are equated to adequate salary, heat, and air to ensure employees’ survival and well-being.
  2. Safety Needs: Once physiological needs are met, individuals seek protection and security, both physically and psychologically. In the workplace, this relates to job security, safe working conditions, and a stable environment free from physical harm.
  3. Belongingness/Social Needs: After safety, individuals look for social connections, love, and belonging. In an organization, this refers to forming relationships with colleagues and feeling accepted as part of a team. Employees value a friendly work environment and camaraderie among coworkers.
  4. Esteem Needs: These involve the need for recognition, respect, and self-esteem. Employees strive to achieve recognition for their work, which can be fulfilled through awards, promotions, or being acknowledged as valuable team members.
  5. Self-Actualization Needs: The highest level, where individuals strive to realize their full potential. In the workplace, this involves opportunities for personal growth, creativity, and achieving career goals. Managers can help employees meet these needs by providing challenging tasks and encouraging innovation.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SB – Q5a – Management, Individual, and Organisational Behaviour"

  • 20 Marks

BMF – May 2015 – L1 – SB – Q4 – Basics of Business Finance and Financial Markets

Discuss major cash flow items in capital investment projects and explain the payback period investment appraisal method.

a. List and explain FOUR major cashflow items to be included in a capital investment project. (8 Marks)
b.
i. Explain the payback period technique of investment appraisal. (4 Marks)
ii. State TWO advantages and TWO disadvantages of payback period. (8 Marks)

a. Major cashflow items to be included in a capital investment project:

  1. Initial capital outlay: This is the cash expenditure required at the beginning of the project, usually spent on fixed assets.
  2. Operating cash flows: These include cash inflows from sales and cash outflows for operating expenses like wages, utilities, and materials.
  3. Terminal cash flows: These are the cash flows at the end of the project, such as salvage value or disposal of assets.
  4. Incremental cash flows: These refer to the additional cash flows generated directly by the investment, which wouldn’t have been earned otherwise.

b. i. Payback Period Investment Appraisal Technique:
This technique calculates the time needed for the cash inflows generated by a project to recover the initial investment. It emphasizes liquidity by focusing on the period over which the project will generate enough cash inflows to cover the initial outlay. It does not take into account the time value of money or cash flows beyond the payback period.

ii. Advantages of Payback Period:

  1. Simple to calculate and understand.
  2. It is useful for projects where liquidity is important because it focuses on recovering the initial investment quickly.

Disadvantages of Payback Period:

  1. It ignores cash flows that occur after the payback period, potentially overlooking the profitability of longer-term projects.
  2. It does not consider the time value of money.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SB – Q4 – Basics of Business Finance and Financial Markets"

  • 20 Marks

BMF – May 2015 – L1 – SB – Q4 – Basics of Business Finance and Financial Markets

Discuss major cash flow items in capital investment projects and explain the payback period investment appraisal method.

a. List and explain FOUR major cashflow items to be included in a capital investment project. (8 Marks)
b.
i. Explain the payback period technique of investment appraisal. (4 Marks)
ii. State TWO advantages and TWO disadvantages of payback period. (8 Marks)

a. Major cashflow items to be included in a capital investment project:

  1. Initial capital outlay: This is the cash expenditure required at the beginning of the project, usually spent on fixed assets.
  2. Operating cash flows: These include cash inflows from sales and cash outflows for operating expenses like wages, utilities, and materials.
  3. Terminal cash flows: These are the cash flows at the end of the project, such as salvage value or disposal of assets.
  4. Incremental cash flows: These refer to the additional cash flows generated directly by the investment, which wouldn’t have been earned otherwise.

b. i. Payback Period Investment Appraisal Technique:
This technique calculates the time needed for the cash inflows generated by a project to recover the initial investment. It emphasizes liquidity by focusing on the period over which the project will generate enough cash inflows to cover the initial outlay. It does not take into account the time value of money or cash flows beyond the payback period.

ii. Advantages of Payback Period:

  1. Simple to calculate and understand.
  2. It is useful for projects where liquidity is important because it focuses on recovering the initial investment quickly.

Disadvantages of Payback Period:

  1. It ignores cash flows that occur after the payback period, potentially overlooking the profitability of longer-term projects.
  2. It does not consider the time value of money.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SB – Q4 – Basics of Business Finance and Financial Markets"

  • 20 Marks

BMF – May 2015 – L1 – SB – Q3 – The Role of Professional Accountants in Business and Society

Discuss reasons for government involvement in the Nigerian financial system and mechanisms for intervention.

a. State FIVE reasons for the increasing role of Government in the Nigerian Financial System.
(10 Marks)

b. State FIVE mechanisms for government intervention in the financial system.
(10 Marks)

a. Reasons for the Increasing Role of Government in the Nigerian Financial System:

  1. To maintain monetary stability: The government needs to ensure that the financial system remains stable to control inflation and manage the economy effectively.
  2. To promote economic growth: Government interventions are essential to stimulate growth and support the development of various sectors of the economy.
  3. To ensure healthy competition: By regulating the financial system, the government prevents monopolies and ensures fair competition, both domestically and internationally.
  4. To protect the public from fraud and exploitation: Government policies are crucial to safeguarding the public from unethical financial practices.
  5. To attract foreign investment: A stable financial system encourages international investors, contributing to the growth of the economy.

b. Mechanisms for Government Intervention in the Financial System:

  1. Open Market Operations (OMO): The government buys and sells treasury bills and bonds to control the money supply.
  2. Changes in monetary policy rates (MPR): Adjusting the MPR influences interest rates, which in turn affects borrowing and investment levels in the economy.
  3. Liquidity ratio adjustments: The government can change the liquidity ratio to control the amount of cash that banks must hold as reserves, impacting the availability of credit.
  4. Fiscal policy (taxation and spending): The government uses taxes and public spending to influence the financial system and stimulate or slow down the economy.
  5. Recapitalization of banks: To maintain stability, the government may require banks to recapitalize, ensuring that they have enough funds to meet their obligations.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SB – Q3 – The Role of Professional Accountants in Business and Society"

  • 20 Marks

BMF – May 2015 – L1 – SB – Q3 – The Role of Professional Accountants in Business and Society

Discuss reasons for government involvement in the Nigerian financial system and mechanisms for intervention.

a. State FIVE reasons for the increasing role of Government in the Nigerian Financial System.
(10 Marks)

b. State FIVE mechanisms for government intervention in the financial system.
(10 Marks)

a. Reasons for the Increasing Role of Government in the Nigerian Financial System:

  1. To maintain monetary stability: The government needs to ensure that the financial system remains stable to control inflation and manage the economy effectively.
  2. To promote economic growth: Government interventions are essential to stimulate growth and support the development of various sectors of the economy.
  3. To ensure healthy competition: By regulating the financial system, the government prevents monopolies and ensures fair competition, both domestically and internationally.
  4. To protect the public from fraud and exploitation: Government policies are crucial to safeguarding the public from unethical financial practices.
  5. To attract foreign investment: A stable financial system encourages international investors, contributing to the growth of the economy.

b. Mechanisms for Government Intervention in the Financial System:

  1. Open Market Operations (OMO): The government buys and sells treasury bills and bonds to control the money supply.
  2. Changes in monetary policy rates (MPR): Adjusting the MPR influences interest rates, which in turn affects borrowing and investment levels in the economy.
  3. Liquidity ratio adjustments: The government can change the liquidity ratio to control the amount of cash that banks must hold as reserves, impacting the availability of credit.
  4. Fiscal policy (taxation and spending): The government uses taxes and public spending to influence the financial system and stimulate or slow down the economy.
  5. Recapitalization of banks: To maintain stability, the government may require banks to recapitalize, ensuring that they have enough funds to meet their obligations.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SB – Q3 – The Role of Professional Accountants in Business and Society"

  • 20 Marks

BMF – May 2015 – L1 – SB – Q2 – The Business Environment

Discuss four external environmental factors that impact business operations.

Businesses do not operate in a vacuum. There is a combination of internal and external factors that affect how businesses function.
State and explain any FOUR external environmental factors that affect a business.

  1. Political Factors:
    Political factors affect the level of opportunities and threats within the business environment. Factors such as the stability of the political system, government policies, and regulations have a major influence on how businesses operate. A change in government or political instability can affect market conditions and disrupt business operations.
  2. Economic Factors:
    Economic conditions, including inflation rates, interest rates, economic growth, and exchange rates, play a crucial role in business performance. A strong economy encourages businesses to expand, whereas a weak economy may force businesses to downsize or halt operations.
  3. Socio-Cultural Factors:
    Socio-cultural aspects include the beliefs, values, attitudes, and lifestyles of people. These factors influence consumer behavior and market demand. A business must understand these cultural nuances to tailor products and services that meet the expectations of its customers.
  4. Technological Factors:
    The level of technological advancement within a country or industry determines the efficiency of production processes and service delivery. Businesses must keep up with technological changes to remain competitive. This includes automation, internet usage, and new software or tools that improve operational efficiency.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SB – Q2 – The Business Environment"

  • 20 Marks

BMF – May 2015 – L1 – SB – Q2 – The Business Environment

Discuss four external environmental factors that impact business operations.

Businesses do not operate in a vacuum. There is a combination of internal and external factors that affect how businesses function.
State and explain any FOUR external environmental factors that affect a business.

  1. Political Factors:
    Political factors affect the level of opportunities and threats within the business environment. Factors such as the stability of the political system, government policies, and regulations have a major influence on how businesses operate. A change in government or political instability can affect market conditions and disrupt business operations.
  2. Economic Factors:
    Economic conditions, including inflation rates, interest rates, economic growth, and exchange rates, play a crucial role in business performance. A strong economy encourages businesses to expand, whereas a weak economy may force businesses to downsize or halt operations.
  3. Socio-Cultural Factors:
    Socio-cultural aspects include the beliefs, values, attitudes, and lifestyles of people. These factors influence consumer behavior and market demand. A business must understand these cultural nuances to tailor products and services that meet the expectations of its customers.
  4. Technological Factors:
    The level of technological advancement within a country or industry determines the efficiency of production processes and service delivery. Businesses must keep up with technological changes to remain competitive. This includes automation, internet usage, and new software or tools that improve operational efficiency.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SB – Q2 – The Business Environment"

  • 5 Marks

BMF – May 2015 – L1 – SB – Q1b – Business and Organizational Structures and Choices

Identifying the advantages of a partnership business.

Identify FIVE advantages of a partnership business.

  1. Shared management and pooled knowledge: Partners bring in varied expertise and skills to manage the business.
  2. Attraction of more financial resources: Partnerships can attract more capital compared to sole proprietorships.
  3. Continuity in comparison with sole proprietorship: Unlike sole proprietorships, partnerships can continue even when one partner exits.
  4. Division of labor: Partners can divide work based on their strengths, leading to more efficient management.
  5. Sharing of risks and losses: The risks and financial losses are shared among partners, reducing the burden on a single individual.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SB – Q1b – Business and Organizational Structures and Choices"

  • 5 Marks

BMF – May 2015 – L1 – SB – Q1b – Business and Organizational Structures and Choices

Identifying the advantages of a partnership business.

Identify FIVE advantages of a partnership business.

  1. Shared management and pooled knowledge: Partners bring in varied expertise and skills to manage the business.
  2. Attraction of more financial resources: Partnerships can attract more capital compared to sole proprietorships.
  3. Continuity in comparison with sole proprietorship: Unlike sole proprietorships, partnerships can continue even when one partner exits.
  4. Division of labor: Partners can divide work based on their strengths, leading to more efficient management.
  5. Sharing of risks and losses: The risks and financial losses are shared among partners, reducing the burden on a single individual.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SB – Q1b – Business and Organizational Structures and Choices"

  • 15 Marks

BMF – May 2015 – L1 – SB – Q1a – Business and Organizational Structures and Choices

Features of the Memorandum of Association, Articles of Association, and Public Sector Entities.

State FIVE features of each of the following:
i. Memorandum of Association (5 Marks)
ii. Articles of Association (5 Marks)
iii. Public Sector Entity (5 Marks)

i. Features of Memorandum of Association:

  • The name of the company.
  • The names and addresses of the shareholders.
  • The number of shares held by each shareholder.
  • The location of the registered office.
  • The objectives of the company.

ii. Features of Articles of Association:

  • The internal relations of the company.
  • The rights of shareholders.
  • How meetings are convened.
  • Appointment and renewal of directors and other officers.
  • Power and duties of directors.

iii. Features of Public Sector Entity:

  • It is owned by the government.
  • It is created by an Act of Parliament.
  • It is managed by a board of directors appointed by the government.
  • It renders essential services.
  • It is not established for profit.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SB – Q1a – Business and Organizational Structures and Choices"

  • 15 Marks

BMF – May 2015 – L1 – SB – Q1a – Business and Organizational Structures and Choices

Features of the Memorandum of Association, Articles of Association, and Public Sector Entities.

State FIVE features of each of the following:
i. Memorandum of Association (5 Marks)
ii. Articles of Association (5 Marks)
iii. Public Sector Entity (5 Marks)

i. Features of Memorandum of Association:

  • The name of the company.
  • The names and addresses of the shareholders.
  • The number of shares held by each shareholder.
  • The location of the registered office.
  • The objectives of the company.

ii. Features of Articles of Association:

  • The internal relations of the company.
  • The rights of shareholders.
  • How meetings are convened.
  • Appointment and renewal of directors and other officers.
  • Power and duties of directors.

iii. Features of Public Sector Entity:

  • It is owned by the government.
  • It is created by an Act of Parliament.
  • It is managed by a board of directors appointed by the government.
  • It renders essential services.
  • It is not established for profit.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SB – Q1a – Business and Organizational Structures and Choices"

  • 1 Marks

BMF – MAY 2015 – L1 – SA – Q20 – Communications in Business

Defining the process of information transmission in business contexts.

The process of transmission of information from one person, group or organisation to another is called:

A. Decoding
B. Communication
C. Globalization
D. Presentation
E. Translation

Answer: B. Communication

Explanation:
Communication refers to the process of transmitting information from one entity to another, encompassing various methods and channels. It is essential for effective interaction within and between organizations.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – MAY 2015 – L1 – SA – Q20 – Communications in Business"

  • 1 Marks

BMF – MAY 2015 – L1 – SA – Q20 – Communications in Business

Defining the process of information transmission in business contexts.

The process of transmission of information from one person, group or organisation to another is called:

A. Decoding
B. Communication
C. Globalization
D. Presentation
E. Translation

Answer: B. Communication

Explanation:
Communication refers to the process of transmitting information from one entity to another, encompassing various methods and channels. It is essential for effective interaction within and between organizations.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – MAY 2015 – L1 – SA – Q20 – Communications in Business"

  • 1 Marks

BMF – MAY 2015 – L1 – SA – Q19 – Management, Individual, and Organisational Behaviour

Identifying the leadership style based on authority and control over rewards.

A leadership style in which the leader has the authority to withhold or give reward and punishment is referred to as ………………. style.

A. Democratic leadership
B. Participative leadership
C. Contingency leadership
D. Autocratic leadership
E. Laissez faire leadership

Answer: D. Autocratic leadership

Explanation:
Autocratic leadership is characterized by a leader who has significant control over decision-making and the authority to reward or punish subordinates. This style does not typically involve team input or collaboration, focusing instead on the leader’s authority and directives.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – MAY 2015 – L1 – SA – Q19 – Management, Individual, and Organisational Behaviour"

  • 1 Marks

BMF – MAY 2015 – L1 – SA – Q19 – Management, Individual, and Organisational Behaviour

Identifying the leadership style based on authority and control over rewards.

A leadership style in which the leader has the authority to withhold or give reward and punishment is referred to as ………………. style.

A. Democratic leadership
B. Participative leadership
C. Contingency leadership
D. Autocratic leadership
E. Laissez faire leadership

Answer: D. Autocratic leadership

Explanation:
Autocratic leadership is characterized by a leader who has significant control over decision-making and the authority to reward or punish subordinates. This style does not typically involve team input or collaboration, focusing instead on the leader’s authority and directives.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – MAY 2015 – L1 – SA – Q19 – Management, Individual, and Organisational Behaviour"

  • 1 Marks

BMF – May 2015 – L1 – SA – Q8 – Communications in Business

This question tests understanding of the type of communication referred to as "Grapevine" in organizational contexts.

Which type of communication is Grapevine?

A. Formal
B. Informal
C. External
D. Formal and Informal
E. Internal and External

Answer:
B – Informal. Grapevine communication is an informal type of communication that spreads information and rumors within an organization, often outside formal channels.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SA – Q8 – Communications in Business"

  • 1 Marks

BMF – May 2015 – L1 – SA – Q8 – Communications in Business

This question tests understanding of the type of communication referred to as "Grapevine" in organizational contexts.

Which type of communication is Grapevine?

A. Formal
B. Informal
C. External
D. Formal and Informal
E. Internal and External

Answer:
B – Informal. Grapevine communication is an informal type of communication that spreads information and rumors within an organization, often outside formal channels.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SA – Q8 – Communications in Business"

  • 1 Marks

BMF – May 2015 – L1 – SA – Q7 – Management, Individual, and Organisational Behaviour

This question focuses on identifying a key instrument used to influence and change organizational culture.

Which of the following is a key instrument in changing organisational culture?

A. Training
B. Team membership
C. MBO Strategy
D. Problem analysis
E. Growth

Answer:
A – Training is a key instrument in changing organizational culture, as it helps employees adapt to new values, practices, and behaviors that align with the desired organizational culture.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SA – Q7 – Management, Individual, and Organisational Behaviour"

  • 1 Marks

BMF – May 2015 – L1 – SA – Q7 – Management, Individual, and Organisational Behaviour

This question focuses on identifying a key instrument used to influence and change organizational culture.

Which of the following is a key instrument in changing organisational culture?

A. Training
B. Team membership
C. MBO Strategy
D. Problem analysis
E. Growth

Answer:
A – Training is a key instrument in changing organizational culture, as it helps employees adapt to new values, practices, and behaviors that align with the desired organizational culture.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SA – Q7 – Management, Individual, and Organisational Behaviour"

  • 1 Marks

BMF – May 2015 – L1 – SA – Q6 – Management, Individual, and Organisational Behaviour

This question tests the understanding of which management theory is closely related to Maslow’s higher-level needs.

Which of the following theories has assumptions that are closely related to Maslow’s higher-level needs?

A. Theory X
B. Theory Y
C. Theory Z
D. Theory XY
E. Theory XYZ

Answer:
B – Theory Y has assumptions that are closely related to Maslow’s higher-level needs, which include self-actualization and esteem needs. Theory Y assumes that employees are self-motivated and thrive on responsibility and personal development.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SA – Q6 – Management, Individual, and Organisational Behaviour"

  • 1 Marks

BMF – May 2015 – L1 – SA – Q6 – Management, Individual, and Organisational Behaviour

This question tests the understanding of which management theory is closely related to Maslow’s higher-level needs.

Which of the following theories has assumptions that are closely related to Maslow’s higher-level needs?

A. Theory X
B. Theory Y
C. Theory Z
D. Theory XY
E. Theory XYZ

Answer:
B – Theory Y has assumptions that are closely related to Maslow’s higher-level needs, which include self-actualization and esteem needs. Theory Y assumes that employees are self-motivated and thrive on responsibility and personal development.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SA – Q6 – Management, Individual, and Organisational Behaviour"

  • 1 Marks

BMF – May 2015 – L1 – SA – Q5 – The Role of Professional Accountants in Business and Society

This question tests knowledge of ethical theories, specifically focusing on one that prioritizes self-interest as the basis for human conduct.

Which of the following ethical theories expresses the view that human conduct should be based exclusively on self-interest?

A. Normative ethics
B. Applied ethics
C. Ethical egoism
D. Ethics of duty
E. Virtue ethics

Answer:
C – Ethical egoism is the ethical theory that expresses the view that human conduct should be based exclusively on self-interest.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SA – Q5 – The Role of Professional Accountants in Business and Society"

  • 1 Marks

BMF – May 2015 – L1 – SA – Q5 – The Role of Professional Accountants in Business and Society

This question tests knowledge of ethical theories, specifically focusing on one that prioritizes self-interest as the basis for human conduct.

Which of the following ethical theories expresses the view that human conduct should be based exclusively on self-interest?

A. Normative ethics
B. Applied ethics
C. Ethical egoism
D. Ethics of duty
E. Virtue ethics

Answer:
C – Ethical egoism is the ethical theory that expresses the view that human conduct should be based exclusively on self-interest.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SA – Q5 – The Role of Professional Accountants in Business and Society"

  • 1 Marks

BMF – May 2015 – L1 – SA – Q4 – Basics of Business Finance and Financial Markets

This question focuses on identifying the correct item that is included in a cash flow calculation.

Which of the following is a cashflow calculation item?

A. Depreciation of fixed assets
B. Loss on disposal of fixed assets
C. Profit on disposal of investments
D. Surplus on revaluation of fixed assets
E. Proceeds from disposal of fixed assets

Answer:
E – Proceeds from disposal of fixed assets is a cash flow calculation item, as it represents actual cash inflow from the sale of assets.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SA – Q4 – Basics of Business Finance and Financial Markets"

  • 1 Marks

BMF – May 2015 – L1 – SA – Q4 – Basics of Business Finance and Financial Markets

This question focuses on identifying the correct item that is included in a cash flow calculation.

Which of the following is a cashflow calculation item?

A. Depreciation of fixed assets
B. Loss on disposal of fixed assets
C. Profit on disposal of investments
D. Surplus on revaluation of fixed assets
E. Proceeds from disposal of fixed assets

Answer:
E – Proceeds from disposal of fixed assets is a cash flow calculation item, as it represents actual cash inflow from the sale of assets.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SA – Q4 – Basics of Business Finance and Financial Markets"

  • 1 Marks

BMF – May 2015 – L1 – SA – Q3 – The Business Environment

This question focuses on the purpose of analyzing an organization’s strategic position and its implications for organizational strategy.

The purpose of analyzing an organisation’s strategic position is:

A. To understand the operational and corporate requirements of an organisation
B. To understand the strategic position of the organisation in terms of its strategic capability
C. To understand and allocate available resources
D. To understand the strategic position of the organisation in terms of its external environment, capabilities, and expectations
E. To evaluate the resources required to translate strategy into action

Answer:
D – The purpose of analyzing an organization’s strategic position is to understand the strategic position of the organization in terms of its external environment, capabilities, and expectations.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SA – Q3 – The Business Environment"

  • 1 Marks

BMF – May 2015 – L1 – SA – Q3 – The Business Environment

This question focuses on the purpose of analyzing an organization’s strategic position and its implications for organizational strategy.

The purpose of analyzing an organisation’s strategic position is:

A. To understand the operational and corporate requirements of an organisation
B. To understand the strategic position of the organisation in terms of its strategic capability
C. To understand and allocate available resources
D. To understand the strategic position of the organisation in terms of its external environment, capabilities, and expectations
E. To evaluate the resources required to translate strategy into action

Answer:
D – The purpose of analyzing an organization’s strategic position is to understand the strategic position of the organization in terms of its external environment, capabilities, and expectations.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SA – Q3 – The Business Environment"

  • 1 Marks

BMF – May 2015 – L1 – SA – Q2 – Basics of Business Finance and Financial Markets

This question tests knowledge on the process of channeling funds between economic units within a financial system.

The channelling of funds from one economic unit to the other is known as:

A. Financial market
B. Financial intervention
C. Financial restructuring
D. Financial intermediation
E. Money market intervention

Answer:
D – Financial intermediation is the process of channelling funds from one economic unit to another.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SA – Q2 – Basics of Business Finance and Financial Markets"

  • 1 Marks

BMF – May 2015 – L1 – SA – Q2 – Basics of Business Finance and Financial Markets

This question tests knowledge on the process of channeling funds between economic units within a financial system.

The channelling of funds from one economic unit to the other is known as:

A. Financial market
B. Financial intervention
C. Financial restructuring
D. Financial intermediation
E. Money market intervention

Answer:
D – Financial intermediation is the process of channelling funds from one economic unit to another.

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SA – Q2 – Basics of Business Finance and Financial Markets"

  • 1 Marks

BMF – May 2015 – L1 – SA – Q1 – Basic Management Functions

This question tests the understanding of the management function that ensures compliance with established policies and practices.

The management function which ensures that things happen in accordance with established policies and practices is called:

A. Organising
B. Coordinating
C. Controlling
D. Planning
E. Motivating

Answer:
C – Controlling is the management function that ensures activities are carried out according to established policies

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SA – Q1 – Basic Management Functions"

  • 1 Marks

BMF – May 2015 – L1 – SA – Q1 – Basic Management Functions

This question tests the understanding of the management function that ensures compliance with established policies and practices.

The management function which ensures that things happen in accordance with established policies and practices is called:

A. Organising
B. Coordinating
C. Controlling
D. Planning
E. Motivating

Answer:
C – Controlling is the management function that ensures activities are carried out according to established policies

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2015 – L1 – SA – Q1 – Basic Management Functions"

  • 20 Marks

QTB – May 2015 – L1 – SB – Q6 – Operations Research

This question involves calculating the change in revenue, total revenue, total cost, and total profit for a manufacturer based on given marginal cost and marginal revenue functions.

A manufacturer determines that the firm’s Marginal Cost (MC) and Marginal Revenue (MR) functions are:

MC=C′(x) = 100 − 0.1x

MR = R′(x)=100 + 0.1x

You are required to find the:

a. Change in revenue that results when the sales level increases from 20 to 30 units. (5 Marks)
b. Revenue resulting from the sale of 30 units. (5 Marks)
c. Cost of producing 30 units if the fixed cost (at x=0x = 0) is N400. (5 Marks)
d. Total profit when 30 units of the product are sold. (5 Marks)

a. As the sales level increase from x = 20 to x = 30 units, the revenue changes by the
amount

Thus, the revenue increases by N1,025

b. If we assume that the revenue from the sales of x = 0 units, then the revenue resulting
from the sale of x =30 units can be viewed as the change in revenue that results when
sales increase from x = 0 to x = 30.

This change is given by

c. As the production level increases from x = 0 unit to x =30 units, the cost changes by an
amount given as follows:

Thus, the total cost for manufacturing 30 units of the product will be the fixed cost plus
the added cost as the production increase from x = 0 units to x = 30 units. Thus, the cost
will be

N (400 + 2,955) = N3,355

d. Total Profit from the Sale of 30 Units:

Profit is calculated as the difference between total revenue and total cost:

Profit = Revenue − Cost

From part (b), revenue is N3045, and from part (c), cost is N3355:

Profit=3045 − 3355= − 310

Thus, the total profit when 30 units are sold is N-310 (a loss of N310).

Therefore:

  • The change in revenue is N1025.
  • The revenue from selling 30 units is N3045.
  • The cost of producing 30 units is N3355.
  • The total profit (or loss) is N-310 (a loss).

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "QTB – May 2015 – L1 – SB – Q6 – Operations Research"

  • 20 Marks

QTB – May 2015 – L1 – SB – Q6 – Operations Research

This question involves calculating the change in revenue, total revenue, total cost, and total profit for a manufacturer based on given marginal cost and marginal revenue functions.

A manufacturer determines that the firm’s Marginal Cost (MC) and Marginal Revenue (MR) functions are:

MC=C′(x) = 100 − 0.1x

MR = R′(x)=100 + 0.1x

You are required to find the:

a. Change in revenue that results when the sales level increases from 20 to 30 units. (5 Marks)
b. Revenue resulting from the sale of 30 units. (5 Marks)
c. Cost of producing 30 units if the fixed cost (at x=0x = 0) is N400. (5 Marks)
d. Total profit when 30 units of the product are sold. (5 Marks)

a. As the sales level increase from x = 20 to x = 30 units, the revenue changes by the
amount

Thus, the revenue increases by N1,025

b. If we assume that the revenue from the sales of x = 0 units, then the revenue resulting
from the sale of x =30 units can be viewed as the change in revenue that results when
sales increase from x = 0 to x = 30.

This change is given by

c. As the production level increases from x = 0 unit to x =30 units, the cost changes by an
amount given as follows:

Thus, the total cost for manufacturing 30 units of the product will be the fixed cost plus
the added cost as the production increase from x = 0 units to x = 30 units. Thus, the cost
will be

N (400 + 2,955) = N3,355

d. Total Profit from the Sale of 30 Units:

Profit is calculated as the difference between total revenue and total cost:

Profit = Revenue − Cost

From part (b), revenue is N3045, and from part (c), cost is N3355:

Profit=3045 − 3355= − 310

Thus, the total profit when 30 units are sold is N-310 (a loss of N310).

Therefore:

  • The change in revenue is N1025.
  • The revenue from selling 30 units is N3045.
  • The cost of producing 30 units is N3355.
  • The total profit (or loss) is N-310 (a loss).

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "QTB – May 2015 – L1 – SB – Q6 – Operations Research"

  • 10 Marks

QTB – May 2015 – L1 – SB – Q5b – Data Collection Analysis

This question requires calculating the lower and upper quartiles for the age distribution of licensed automobile drivers using cumulative frequency.

The following data gives the distribution by age of licensed automobile drivers in a city in the year 2011:

Age Group Number of Drivers (in thousands)
14 – 19 5
20 – 25 48
26 – 31 124
32 – 37 205
38 – 43 86
44 – 49 72
50 – 55 53
56 – 61 13

You are required to calculate the lower quartile (Q1) and upper quartile (Q3) of the age of the drivers.

 

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "QTB – May 2015 – L1 – SB – Q5b – Data Collection Analysis"

  • 10 Marks

QTB – May 2015 – L1 – SB – Q5b – Data Collection Analysis

This question requires calculating the lower and upper quartiles for the age distribution of licensed automobile drivers using cumulative frequency.

The following data gives the distribution by age of licensed automobile drivers in a city in the year 2011:

Age Group Number of Drivers (in thousands)
14 – 19 5
20 – 25 48
26 – 31 124
32 – 37 205
38 – 43 86
44 – 49 72
50 – 55 53
56 – 61 13

You are required to calculate the lower quartile (Q1) and upper quartile (Q3) of the age of the drivers.

 

Login or create a free account to see answers

Login
Register

Complete your registration to see answers

Complete Registration

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "QTB – May 2015 – L1 – SB – Q5b – Data Collection Analysis"

Take control of your business data with insight and in-depth understanding by taking this course. 

Services

Contact Info

  • +233203701923
    +233543919232
  • info@noohrabusiness.com

Customer

Get In Touch

Follow us on our social media and get daily updates.

Facebook-f Twitter Linkedin-in Envelope
error: Content is protected !!