1. Which of the following has been the most influential in redefining the role of accountants as analysts and decision makers rather than as mainly number-crunchers?
a. The collapse of major company groups
b. The trend towards globalisation
c. Developments in information technology
d. The increase in demand for non-financial information
2. The job of the modern accountant is a challenging one. The most critical requirement is:
a. Neatness
b. Punctuality
c. Ability to manage change
d. Ability to add up
3. Which of these is not an economic decision?
a. Religious belief
b. Taking out a loan
c. Purchasing a mobile phone
d. Renting a flat
4. Accounting is a profession that has evolved in response to society’s need for economic information to help people make:
a. Dollars
b. Decisions
c. Demands
d. Donations
5. Select the correct order in which the steps in the decision making process occur.
1. Choose a course of action
2. Establish goals
3. Gather information
4. Evaluate the consequences of the different alternatives
a. 2, 4, 3, 1
b. 2, 3, 4, 1
c. 4, 3, 2, 1
d. 3, 1, 2, 4
6. Which of the four stages of the accounting process is considered to require the most extensive training, experience and judgement?
a. Identifying
b. Measuring
c. Recording
d. Communicating