FREE ACCA F1 (Financial Accounting) Questions and Answers
People may follow the rules and traditions of a group without truly being a part of it. Which of the following phrases best sums up this kind of behavior?
Compliance is the word used to characterize the actions of those who acquiesce to the rules and traditions of a group without truly committing to them. A sort of conformity known as compliance occurs when people adjust their conduct to fit in with the group without necessarily altering their thoughts or beliefs. This might happen when someone don't necessarily agree with the group's principles or ideas but nevertheless feel pressured to fit in. On the other hand, internalization is a form of conformity in which people accept the group's ideals and ideas as their own. Individuals who identify with a group and desire acceptance by it will conform to its rules and values. This is a form of identification. The opposite of conformity
Which of the following alternatives outlines the protocols needed for each of the various tasks that a corporation performs?
A policy handbook is the option that lays down the necessary processes for all of the different corporate operations. A policy manual is a written document that lists the rules and guidelines that control how a corporation is run. In addition to guaranteeing that the company complies with legal and regulatory standards, it offers direction on how to carry out important business processes.
1. Private businesses can advertise to the general public in order to raise shares.
2. Venture capitalists are a source of equity capital for private firms.
Are these claims accurate or inaccurate?
Public advertising is not permitted for private enterprises to raise capital. Only private investors, including angel investors, venture capitalists, and private equity firms, are able to provide them with funding. Investors that lend money to start-ups and small businesses in exchange for stock in the business are known as venture capitalists. Usually, they are drawn to investing in businesses that have the potential for rapid expansion and financial success.
Which of the following describes a job evaluation's goal?
With over 400 workers, Nysslit Lerner plc has an average span of control of three across its organizational structure. Which of the following conclusions could be drawn from this?
An organization that is flat has comparatively few tiers of management separating the top executives from the front-line staff. This indicates that there is broad control, with many employees under each manager's supervision. The average span of control in this instance is three, indicating that the company may have a small number of tiers of management.
An estate agent has written to you wanting financial details regarding one of your clients who is looking to rent a house. The customer will no longer be approved if the information is not received as quickly as feasible, either by fax or email.
The choice of whether, when, and how to reply to this request raises which of the following ethical principles listed in the ACCA code of ethics?
Confidentiality is the ethical concept that is brought up by the choice of whether, when, and how to answer this request. Professional accountants are required by the ACCA Code of Ethics to protect the privacy of any information they learn from their commercial and professional contacts. In this instance, the estate agent is asking for private financial data pertaining to one of your clients. Because of this, you have an ethical duty to keep this information private and only share it in compliance with the client's requests and any applicable laws or regulations.
A sizable, well-known construction company uses project team structures and a temporary matrix to organize itself on a project basis.
Which cultural type is most likely to work well in this company?
A major, well-established construction company that employs temporary matrix and project team structures and organizes itself on a project basis is most likely to have a task culture, according to the information presented. A task culture is one in which completing tasks is prioritized and staff members are given the freedom to decide for themselves and use initiative to forward the objectives of the company. There is a great deal of adaptation and flexibility in this kind of culture, and workers are urged to approach their work in novel and creative ways. A task culture is compatible with the company's concentration on accomplishing particular goals and objectives, as suggested by the employment of temporary matrix and project team structures.