ICAN 2021 Business Management and Finance | Mixed

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Question 1 View Details
A technique used in evaluating the level of power of interest a stakeholder has in a company is termed
Correct A. Mendelow matrix
B. Blanchard matrix
C. Blanchard matrix
D. BCG matrix
E. Porter five model

Correct Answer: A

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Question 2 View Details
Which of the following is NOT a feature of entrepreneurial organisation?
A. There is no formal management structure
B. Owner does not delegate decision-making to other people
C. The entrepreneurial leader dominates the organisation
Correct D. Entrepreneurial leader focuses on people and not the work
E. Owner is closely involved in the day-to-day operations of the business

Correct Answer: D

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Question 3 View Details
A business organisational structure that creates segments on the basis of products or geographical location is best described as a ……………. structure
A. Functional
B. Regional
C. Service
Correct D. Divisional
E. Matrix

Correct Answer: D

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Question 4 View Details
Which of the following is NOT a feature of boundaryless organisational structure?
A. Extensive use of teams
B. Elimination of organisational hierarchy
C. Authorises teams to make decisions
Correct D. Face-to-face meetings
E. Builds teams without geographical barriers

Correct Answer: D

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Question 5 View Details
An organisation with no tangible identity and whose employees may not have strong loyalty culture would be said to be operating a ………………..structure.
A. Network
B. Modular
Correct C. Virtual
D. Hollow
E. Boundaryless

Correct Answer: C

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Question 7 View Details
Which of the following activities may NOT be taken as part of manufacturing function in an organisation?
A. Engineering and maintenance work
Correct B. Physical delivery of goods to customers
C. Production planning and control
D. Quality control and checking
E. Inspection of finished goods

Correct Answer: B

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Question 8 View Details
Which of the following is NOT part of the FIVE dimensions to differences in organisation culture as propounded by Hofstede?
A. Uncertainty avoidance dimension
Correct B. Medium – termism orientation
C. Power-distance dimension
D. Individualism versus collectivism dimension
E. Masculinity versus femininity

Correct Answer: B

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Question 9 View Details
Most e-mail systems support the use of folders to help manage and file e- mails. The e-mail system will normally include some standard folders except
A. Inbox
B. Sent
Correct C. Maps
D. Deleted
E. Drafts

Correct Answer: C

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Question 10 View Details
Which of the following attributes best describes a formal work team?
A. Comes together through the social interaction of its members
B. No specific objective or tasks
Correct C. Decisions are taken by the group leader
D. Can be much more efficient in communicating information
E. Free entry and free exit

Correct Answer: C

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Question 11 View Details
Which of the following is NOT a factor of motivation?
A. Wants
B. Rewards
Correct C. Personality
D. Perceptions
E. Expectations

Correct Answer: C

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Question 12 View Details
Herzberg in his two-factor theory identified two groups of factors causing dissatisfaction or satisfaction with work. Which of the following is a motivating factor?
A. Salary
B. Supervision
Correct C. The work itself
D. Working conditions
E. Relationship with the boss

Correct Answer: C

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Question 13 View Details
Which of the following CANNOT be classified amongst the scientific or classical management theorist?
A. Elton Mayo
B. Henri Fayol
C. Lyndall Urwick
D. Frederick Taylor
Correct E. David McClelland

Correct Answer: E

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Question 14 View Details
Brown borrowed N150,000 at 6% p/a simple interest for 18 months, what is the value of interest due at the end of the period?
A. N 13,200
Correct B. N 13,500
C. N 13,800
D. N 14,000
E. N 14,200

Correct Answer: B

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Question 15 View Details
Blake wants to borrow N120,000 from Jerry. Blake is willing to pay back N127,000 in 3 months, what simple interest rate will he pay?
A. 21.33%
B. 22.33%
Correct C. 23.33%
D. 24.33%
E. 25.33%

Correct Answer: C

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Question 16 View Details
What is the effective rate for an account that pays 9.0% compounded monthly?
A. 9.18%
B. 9.28%
Correct C. 9.38%
D. 9.48%
E. 9.58%

Correct Answer: C

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Question 17 View Details
Assuming a 6.5% time preference rate, what is the present value of N120,000 received two years from now?
A. ₦104,799.11
Correct B. ₦105,799.11
C. ₦106,799.11
D. ₦107,799.11
E. ₦108,799.11

Correct Answer: B

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Question 18 View Details
Which of the following is NOT an advantage of accounting rate of return (ARR) method of investment appraisal techniques?
A. It is based on accounting profit
B. Measures profitability
C. Simple to calculate
D. Widely understood
Correct E. Focuses on all the years of the project’s life

Correct Answer: E

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Question 19 View Details
Which of the following is NOT a source of long-term funds for a public limited liability company?
A. Retained earnings
Correct B. Bonus issue
C. Rights issue
D. Initial public offer (IPO)
E. Further offer

Correct Answer: B

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Question 20 View Details
Which of the following is relevant to investment decisions?
A. Committed cost
B. Notional cost
Correct C. Present cost
D. Stock cost
E. Apportionment of overheads cost

Correct Answer: C

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Question 1 View Details
Requirements
(a)
Protectionism takes the form of government measures to discourage or prohibit imports of foreign goods. State TWO measures countries adopt to protect industries against foreign competition.
(b)
Theoretically, disequilibrium in international payments could be rectified by a fall in the exchange value of the currency of countries that have a deficit in their balance of payments in goods and services. What are the implications of taking this measure?
(c)
Governments of nations sometimes use economic policies to achieve political, social or economic objectives. As an integral part of the Nigerian government’s medium term fiscal framework, there is a proposal to remove fuel subsidy in 2021. According to economic theory, state TEN possible economic impacts of the removal of fuel subsidy in Nigeria.
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Question 2 View Details
An important contribution to ideas about the management of teams was made by Belbin. He studied the behaviour of individuals in teams and the ‘team role’ that each individual plays. He defined a team role as ‘our tendency to behave, contribute and interrelate with others in a particular way’. \(\text{You are required to:}\)
Requirements
(a)
State and describe briefly the THREE main groups of Belbin team roles.
(b)
For each of the THREE Belbin groups, state and describe the THREE team roles it includes.
(c)
According to Belbin, what are the factors that contribute to the most successful team work?
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Question 3 View Details
CASHIO Limited must choose between two investments, Project ABUWA and Project BRIWA. It cannot undertake both investments. The expected cash flows for each project are: \(\begin{array}{lrr} \text{Year} & \text{Project ABUWA} & \text{Project BRIWA} \\ & \text{₦} & \text{₦} \\ 0 & (800,000) & (800,000) \\ 1 & 200,000 & 600,000 \\ 2 & 360,000 & 240,000 \\ 3 & 360,000 & 20,000 \\ 4 & 170,000 & - \end{array}\) The company has a policy that the maximum permissible payback period for an investment is three years and if a choice has to be made between the two projects, the project with the earlier payback will be chosen. \(Required:\)
Requirements
(a)
Calculate the payback period for each project: i. Assuming that cash flows occur at that year end ii. Assuming that cash flows after Year 0 occur at a constant rate throughout each year
(b)
Which project should be selected according to the company’s payback rule
(c)
State the reasons for your decision in (b) above.
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Question 4 View Details
Felfred Limited is contemplating buying a new item of equipment to facilitate the improvement of the quality of services provided to customers of the company. Two models of the needed equipment are currently available in the market. The two machines, Xetoy and Whytox would cost N750,000 and N1,500,000 respectively. Additional information in relation to the two equipment is as stated below: \( \begin{array}{lrr} & \textbf{Equipment} & \textbf{Equipment} \\ & \textbf{Xetoy} & \textbf{Whytox} \\ \text{Estimated Lifespan} & 5 \text{ years} & 5 \text{ years} \\ \text{Expected Cash inflows / Year} & \text{₦} & \text{₦} \\ 2021 & 500,000 & 500,000 \\ 2022 & 500,000 & 500,000 \\ 2023 & 300,000 & 600,000 \\ 2024 & 200,000 & 600,000 \\ 2025 & 100,000 & 600,000 \\ \text{Disposal value} & 50,000 & 100,000 \end{array} \) Based on Net Present Value (NPV) and Discounted Payback Period methods of investment appraisal, you are required to select the equipment in which the value of shareholders will be maximised. Costs of installation for Xetoy and Whytox are N50,000 and N100,000 respectively. The company’s minimum required rate of return is currently at 12%.
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Question 5 View Details
Leadership means giving a lead to others. A leader gives guidance and direction and the others (‘followers’) follow the lead that they are given. \(\text{You are required to:}\)
Requirements
(a)
Describe the main elements of Adair’s concept of action-centred leadership.
(b)
State the main skills required within each of Adair’s THREE leadership groups.
(c)
Explain Adair’s 50/50 rule.
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Question 6 View Details
Requirements
(a)
In a normal situation or circumstance, employees are expected to report unethical or illegal conduct to the supervisor or manager. State TWO problems that may arise that would make an employee to use a different reporting channel. ”.
(b)
State the expectations of the public in respect of the accountants and the professional bodies they affiliate with.
(c)
What are the roles expected of the professional accountancy bodies in promoting ethical behaviour in the business environment?
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