QUESTION: 9

The Finance function of XZY company, which is based in the UK. are planning how they
can minimise the corporation tax costs

Which of the following is correct?

Tax avoidance aims to reduce the amount of tax payable and is legal
Tax avoidance aims to reduce the amount of tax payable and is illegal
Tax avoidance operates within the spirit of the law.
Tax avoidance is the same as tax mitigation

Answer(s): A

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QUESTION: 10

Which TWO of the following statements are NOT aims of a reward system?

To ensure consistency and fairness
To comply with legislation
To control costs
To reward poor performance
To encourage excessive risk taking

Answer(s): D,E

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Material requirements planning (MRP I) and manufacturing resource planning (MRP II) are computerised systems used for planning the requirements for raw materials, work-in- progress and finished items and integrating with other production processes. These systems enable strong relationships to be forged with suppliers as orders can be placed with suppliers in good time to fulfill customer requirements and expectations, as well as other processes related to materials planning. Which of the following specifically can MRP I and MRP II NOT assist with?

Financial requirements planning
Equipment utilisation planning
Decision support planning
Labour schedule planning

Answer(s): C

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QUESTION: 12

Which of the following are the primary objectives of a commercial organisation?

Select ALL that apply.

Maximise shareholder wealth
Maximise trading performance
Ensure going concern status
Protect the environment
Ensure continued employment for staff
Ensure compliance with tax legislation

Answer(s): A,B,C

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QUESTION: 9

QUESTION: 10

QUESTION: 11

QUESTION: 12

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