FREE ACCA F2 (Accountant in Business) Questions and Answers

Question 1

Data is information that has undergone processing to give its recipients meaning.

Accepted Answer

FALSE

Answer

TRUE

Question 2

In addition to offering piecework compensation, the organization assures its workers of receiving 80% of a time-based rate of pay, or $20 per hour for an eight-hour workday. The standard amount of time per output unit is three minutes. The pay rate for piecework is $18 per regular hour. What is the gross compensation of an employee on a given day if they create 200 units in eight hours?

Accepted Answer

$180

Answer

$160

Answer

$128

Answer

$144

Question 3

The same percentage of people in each age group as there are in the population as a whole is included in the sample. Which kind of sampling is this an example of?

Accepted Answer

Stratified Sampling

Answer

Cluster Sampling

Answer

Random Sampling

Answer

Systematic Sampling

Question 4

Of the following, which one goes under the category of indirect labor?

Accepted Answer

Forklift truck drivers in the stores of an engineering company

Answer

Assembly workers on a car production line

Answer

Brick layers in a house building company

Answer

Machinists in a factory producing clothes

Question 5

The choice was made to select the 12th item, and then every 20th item, in order to take a sample. Which kind of sampling is this an example of?

Accepted Answer

Systematic Sampling

Answer

Cluster Sampling

Answer

Stratified Sampling

Answer

Random Sampling

Question 6

Which cost unit would be most suitable for a manufacturer of cakes? Price per:

Accepted Answer

Batch

Answer

Kg

Answer

Cake

Answer

Production Run

Question 7

When calculating the cost of a product, one example of a direct expense in an organization that produces several distinct goods in a single huge plant is the factory's rent.

Accepted Answer

FALSE

Answer

TRUE