Management Notes

Reference Notes for Management

In many cases, pioneers lose their market lead and initial market share to imitators who

In many cases, pioneers lose their market lead and initial market share to imitators who

In many cases, pioneers lose their market lead and initial market share to imitators who

 Options:

A. capitalize on the pioneers’ weaknesses.
B. create similar products with reduced value to consumers.
C. utilize alpha-beta testing.
D. ignore patents and copyrights.
E. target late maturity consumers.

The Correct Answer Is:

A. capitalize on the pioneers’ weaknesses.

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Research about differential reinforcement of sex-appropriate behavior suggests that

Research about differential reinforcement of sex-appropriate behavior suggests that

Research about differential reinforcement of sex-appropriate behavior suggests that

 Options:

A) A meta-analysis suggests that psychodynamic psychoanalysis is the least effective approach.
B) Data regarding the comparative effectiveness of psychotherapeutic techniques is unavailable.
C) No studies have found one psychotherapeutic approach more effective than another.
D) Research shows that cognitive-behavioral therapy is the most effective approach.

The Correct Answer Is:

C) No studies have found one psychotherapeutic approach more effective than another.

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A production subsidy that is granted to a producer of an import-competing good

A production subsidy that is granted to a producer of an import-competing good

A production subsidy that is granted to a producer of an import-competing good

 Options:

a. does not require governmental taxes to finance it
b. yields the same deadweight welfare loss as an import tariff or import quota
c. has only a consumption effect deadweight loss
d. has only a protective effect deadweight loss

The Correct Answer Is:

d. has only a protective effect deadweight loss

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In his empirical tests Wassily Leontief used an input-output table to

In his empirical tests Wassily Leontief used an input-output table to

In his empirical tests Wassily Leontief used an input-output table to

 Options:

a. calculate the capital and labor required to produce $1 million of U.S. exports and imports.
b. calculate the labor productivity of American workers relative to foreign workers.
c. calculate the capital productivity of American capital relative to foreign capital.
d. all of the above

The Correct Answer Is:

a. calculate the capital and labor required to produce $1 million of U.S. exports and imports.

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All but which of the following is considered to be a myth associated with entrepreneurship?

All but which of the following is considered to be a myth associated with entrepreneurship?

All but which of the following is considered to be a myth associated with entrepreneurship?

 Options:

A. Successful entrepreneurs are born not made
B. First ventures are always successful
C. All entrepreneurs must willingly invest significant sums of money
D. Successful entrepreneurs must have a break-through invention
E. An entrepreneur faces extraordinary business risks

The Correct Answer Is:

D. Successful entrepreneurs must have a break-through invention

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In order to vouch bought ledger the auditor obtain confirmations from creditors. Theprincipal reason for the auditor to examine suppliers statements at balance sheet date is to obtain evidence that

In order to vouch bought ledger the auditor obtain confirmations from creditors. The principal reason for the auditor to examine suppliers statements at balance sheet date is to obtain evidence that

In order to vouch bought ledger the auditor obtain confirmations from creditors. The principal reason for the auditor to examine suppliers statements at balance sheet date is to obtain evidence that

 Options:

a) the supplier exist
b) there are no unrecorded liabilities
c) recorded purchases actually occurred
d) to link creditors with cash book entries

The Correct Answer Is:

b) there are no unrecorded liabilities

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The management of a company to which AS-3. is not applicable does not include statement of cash flows in its annual report. The auditor should express

The management of a company to which AS-3. is not applicable does not include statement of cash flows in its annual report. The auditor should express

The management of a company to which AS-3. is not applicable does not include statement of cash flows in its annual report. The auditor should express

 Options:

a) Unqualified opinion
b) Qualified opinion
c) Adverse opinion
d) Any of these depending upon materiality and pervasiveness and adequacy of disclosure

The Correct Answer Is:

a) Unqualified opinion

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Which of the following report not result in qualification of the auditor’s opinion due to a scope limitation?

Which of the following report not result in qualification of the auditor’s opinion due to a scope limitation?

Which of the following report not result in qualification of the auditor’s opinion due to a scope limitation?

 Options:

a) Restrictions the client imposed
b) Reliance on the report of other auditor
c) Inability to obtain sufficient appropriate evidential matter
d) Inadequacy of accounting records

The Correct Answer Is:

b) Reliance on the report of other auditor

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The principal auditor as per clarification issued by the ICAI does not have any right to-

The principal auditor as per clarification issued by the ICAI does not have any right to-

The principal auditor as per clarification issued by the ICAI does not have any right to-

 Options:

a) Inspect working papers of the branch auditor
b) Visit branches
c) Seek information necessary for audit purposes
d) Incorporate the branch audit report in his audit report

The Correct Answer Is:

a) Inspect working papers of the branch auditor

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As per the requirements of section 226(3) and 226(4) a person is disqualified from being appointed as a statutory auditor if he holds-

As per the requirements of section 226(3) and 226(4) a person is disqualified from being appointed as a statutory auditor if he holds-

As per the requirements of section 226(3) and 226(4) a person is disqualified from being appointed as a statutory auditor if he holds-

 Options:

a) Equity shares or debentures of the company
b) Equity shares carrying voting of the company
c) Shares carrying voting rights of the company
d) Security carrying voting rights of the company

The Correct Answer Is:

d) Security carrying voting rights of the company

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Which of the following statements is not true with respect to management representations obtained as per AAS-11?

Which of the following statements is not true with respect to management representations obtained as per AAS-11?

Which of the following statements is not true with respect to management representations obtained as per AAS-11?

 Options:

a) Authenticated copy of relevant minutes of meetings may be regarded as management representation
b) It should always be in working
c) It may be dated prior to the report date
d) It should be addressed to the auditor

The Correct Answer Is:

b) It should always be in working

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