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CIMA E1 Exam Questions
Managing Finance in a Digital World (Page 9 )

Updated On: 27-Feb-2026
Page 9 of 60
PDF with 295 Questions

L is employed within a startup organisation that has limited funds. The organisation is a firm of lawyers specialising in all legal fields, such as family law, property law, commercial law and litigation. Due to the relative infancy of the organisation, and restrictions on funds, they have to be prudent with their choice of information systems. They have all the IT they need for staff but the agreed best way to build the business has been to focus on building their client and prospective client base. Which of the following should the organisation invest in to help achieve this aim?

  1. Intranet
  2. Enterprise Resource Planning software
  3. Customer Relationship Management software
  4. Purchase cloud backup capabilities

Answer(s): C



Data science is increasingly important in the production of business focused data It consists mainly of experts with backgrounds in mathematics, programming and computer science

Which of the following best describes the attributes of a data scientist?

  1. Individuals who act as an interface between the business functions and data specialists
  2. individuals with the ability to extract meaning from and interpret data from statistics and machine learning.
  3. Individuals who flag inefficiencies in the system and potentially suggest improvements and test solutions.
  4. Individuals who can affect or be affected by the organisations actions

Answer(s): B



Which of the following best outlines the shift to higher level' skills anticipated to be fundamental to future accountants'?

  1. The ability to collect and process data
  2. The ability to balance ledger accounts
  3. The ability to produce an extended trial balance
  4. The ability to evaluate data sources.

Answer(s): A



Which TWO of the following are non-incorporated organisations?

  1. K, who runs a business alone and is entitled to all profits
  2. P and Q who share joint responsibility for their business and all its debts
  3. MN, a family-owned business sharing profits by means of dividends
  4. XY, an organisation whose owners can trade their shares publicly
  5. The British Red Cross Society, a well known charity

Answer(s): A,B



AB Company is planning to implement a new IT system. The existing system runs all of the financial ledgers and is key to the running of the whole organisation. Which of the following will NOT be a suitable method for the changover of the system?

  1. Phased changeover
  2. Direct changeover
  3. Parallel changeover
  4. Pilot changeover

Answer(s): B






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