Business & Technology Flashcards
6 cards from real ACCA AK practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Business & Technology flashcards as text
Which of the following best describes 'professional scepticism' in the context of accountancy?
Answer: Maintaining a questioning mind and critically assessing evidence
Professional scepticism means having a questioning mind, being alert to conditions that may indicate misstatement, and critically evaluating audit evidence.
A SWOT analysis examines:
Answer: Strengths, Weaknesses, Opportunities and Threats
SWOT analysis is a strategic planning tool assessing internal Strengths and Weaknesses, and external Opportunities and Threats facing an organisation.
Which of the following is an example of an 'autocratic' leadership style?
Answer: The leader makes decisions alone without consulting others
Autocratic leaders make decisions unilaterally without consulting subordinates, retaining tight control. This can be efficient in crises but may reduce motivation.
The primary objective of a private sector company is generally considered to be:
Answer: Maximising shareholder wealth
In traditional financial theory, the primary objective of a company is to maximise shareholder wealth (value), though this must be balanced with stakeholder and ethical considerations.
Which of the following correctly describes 'delegation'?
Answer: Assigning responsibility and authority for a task to a subordinate while retaining accountability
Delegation means giving a subordinate the authority and responsibility to carry out a task, though the delegating manager remains ultimately accountable for the outcome.
Tuckman's model of team development lists stages in which order?
Answer: Forming, Storming, Norming, Performing
Tuckman identified four stages: Forming (orientation), Storming (conflict), Norming (cohesion), Performing (productive work), later adding Adjourning.