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Business Awareness Flashcards | StudBud
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Business Awareness
Business Awareness
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Questions
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Answers
1
Identify one benefit of A.I. in accounting
Increased speed of processing
Reduced training
Longer processing speeds
More errors
2
Which organisational structure helps companies communicate and share resources better?
Divisional
Matrix
Bureaucratic
Functional
3
Which of the following is NOT a specific type of money laundering offence?
Acquisition
Concealing
Confiding
Arranging
4
Which of the following is NOT a situation where we are allowed to disclose confidential information?
When required by law
When we need it to help secure new business
When it is in the public interest
When given express permission
5
"Liability for business debts is placed personally on the business owner(s)" describes which business type?
Non-for-profit organisation
Private limited company
Sole trader
Limited liability partnership
6
Insurance is an example of which approach to managing risk?
Reduce
Transfer
Avoid
Accept
7
Which of the following is NOT a characteristic of Big Data?
Variety
Velocity
Vast
Volume
8
Demand increases when the demand curve shifts to the right
True
False
9
Supply decreases when the supply curve it shifts to the right
False
True
10
Select a principle from the AAT Professional Code of Ethics
Sustainability
Confidence
Strength
Integrity
11
The general public can be classified as which type of stakeholder?
Terrestrial
Connected
External
Internal
12
Transparency of transactions is an advantage of Blockchain technology
False
True
13
Span of control is the ability of the employees working for a manager
False
True
14
Which of the following is NOT a PESTLE analysis factor?
Economic
Environmental
Legal
Policing
15
Which of the following is a threat to our ethical principles?
Ego threat
Self-interest threat
Learning threat
Environmental threat
16
When preparing information for a board meeting it must be clearly presented and accurate
False
True
17
A rules based approach to ethics is applicable to all situations
False
True
18
The issue of new shares is a long term financing method
False
True
19
Working capital is a long-term financing method
False
True
20
We apply professional scepticism to help identify errors or fraudulent transactions
False
True
