4.What is the operating cycle of the following company given the following? Stock...
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4.What is the operating cycle of the following company given the following?
Stock cycle12 days
Trade debtors cycle18 days
Trade creditors cycle20 days
(A)26 days
(B)14 days
(C)50 days
(D)10 days
5.Which factors determine the terms of trade credit offered to customers?
(A)Relative bargaining strength of customer and supplier
(B)The type of product being bought and sold
(C)Tradition of the industry
(D)All of the above
6.NANDINO Oman LLC uses 3,000 units of steel component per year. The company has calculated that the cost of placing and processing an order for the steel component is OMR 25, and the cost of holding one unit of steel component for a year is OMR 8.
_______is the economic order quantity (EOQ) for steel component.
(A)115 units
(B)137 units
(C)18,856 units
(D)111 units
10. Who is ultimately responsible for the preparation of a companys financial statements?
(A)The internal auditors
(B)The external auditors
(C)The board of directors
(D)The shareholders
18Eurobonds are denominated in which currency:
(A)Sterling (GBP)
(B)Euros
(C)US dollars
(D)Any currency other than the home currency of the business that issued them
19The 5 components of internal control are:
(A)Control environment, Monitoring, Information & Communication, Control Activities, Risk Assessment
(B)Control environment, Management, Information & Communication, Control Activities, Risk Assessment
(C)Control environment, Monitoring, Information & Communication, Control Activities, Risk Avoidance
(D)Control environment, Monitoring, Information & Reporting, Control Activities, Risk Assessment
20Technology can improve the efficiency and effectiveness of controls. However, it does not come without risk. Which of the following risks are associated with using technology to perform controls?
(i)Unauthorised access
(ii)Manual error
(iii)Data loss
(iv)Downtime
(A)(iii) and (iv)
(B)(i) and (iii) only
(C)(i), (iii) and (iv)
(D)All of the above
4.What is the operating cycle of the following company given the following?
Stock cycle12 days
Trade debtors cycle18 days
Trade creditors cycle20 days
(A)26 days
(B)14 days
(C)50 days
(D)10 days
5.Which factors determine the terms of trade credit offered to customers?
(A)Relative bargaining strength of customer and supplier
(B)The type of product being bought and sold
(C)Tradition of the industry
(D)All of the above
6.NANDINO Oman LLC uses 3,000 units of steel component per year. The company has calculated that the cost of placing and processing an order for the steel component is OMR 25, and the cost of holding one unit of steel component for a year is OMR 8.
_______is the economic order quantity (EOQ) for steel component.
(A)115 units
(B)137 units
(C)18,856 units
(D)111 units
10. Who is ultimately responsible for the preparation of a companys financial statements?
(A)The internal auditors
(B)The external auditors
(C)The board of directors
(D)The shareholders
18Eurobonds are denominated in which currency:
(A)Sterling (GBP)
(B)Euros
(C)US dollars
(D)Any currency other than the home currency of the business that issued them
19The 5 components of internal control are:
(A)Control environment, Monitoring, Information & Communication, Control Activities, Risk Assessment
(B)Control environment, Management, Information & Communication, Control Activities, Risk Assessment
(C)Control environment, Monitoring, Information & Communication, Control Activities, Risk Avoidance
(D)Control environment, Monitoring, Information & Reporting, Control Activities, Risk Assessment
20Technology can improve the efficiency and effectiveness of controls. However, it does not come without risk. Which of the following risks are associated with using technology to perform controls?
(i)Unauthorised access
(ii)Manual error
(iii)Data loss
(iv)Downtime
(A)(iii) and (iv)
(B)(i) and (iii) only
(C)(i), (iii) and (iv)
(D)All of the above
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