CIMA CIMAPRA17-BA1-1-ENG 問題練習

Question No : 1
Which of the following best describes a project that has a negative Net Present Value?

• A.A loss making project
• B.A project that doesn't make enough profit to pay the interest on the money borrowed to invest in it
• C.A project that doesn't make sufficient returns to fully compensate investors for the funds they invest in it
• D.A project that will only start making profits after the present year has finished

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Question No : 2
Which ONE of the following should NOT be classed as an agent of a firm's shareholder?

• A.A non-executive director
• B.An executive director
• C.The chair of the company
• D.The firm's banker

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Question No : 3
If a government adopted an expansionary fiscal policy of cutting direct taxes, the businesses that would benefit most would be those whose products:

• A.Are largely bought on credit
• B.Are largely exported
• C.Have a high price elasticity of demand
• D.Are sold mainly to individual consumers

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Question No : 4
As a result of a period of rapid economic growth, an economy is likely to experience all of the following except which one?

• A.An improving overseas trade balance.
• B.Falling levels of unemployment.
• C.Increased inflationary pressure.
• D.Rising government tax receipts.

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Question No : 5
The business sector will be affected by a contraction in the money supply because

• A.Interest rates will tend to fall, thus reducing business costs.
• B.Inflation will fall and thus demand in the economy will expand.
• C.Consumer credit will contract thus reducing consumer demand.
• D.The exchange rate will fall thus making business more internationally competitive.

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Question No : 6
Inflation is undesirable for all of the following reasons except which one?

• A.Inflation decreases the international competitiveness of the business sector.
• B.Inflation distorts the price system and the process of resource allocation.
• C.Inflation shifts wealth from debtors to creditors in an arbitrary fashion.
• D.Inflation makes business forecasting and planning more difficult.

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Question No : 7
All of the following could cause the onset of a recession except which one?

• A.A significant appreciation of the exchange rate
• B.A decline in business investment
• C.A significant fall in personal savings rates
• D.An increase in the government budget deficit

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Question No : 8
When faced with a recession, the appropriate combination of policies for a government in order to generate a recovery is

• A.Tax cuts, reduced public expenditure and lower interest rates.
• B.Monetary expansion, increases in public expenditure and an appreciation of the exchange rate.
• C.Reduction of the fiscal deficit and increased money supply.
• D.Tax cuts, monetary expansion and a depreciation of the exchange rate.

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Question No : 9
At which stage of the trade cycle should management anticipate a rise in interest rates?

• A.Recession
• B.Depression
• C.Recovery
• D.Boom

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Question No : 10
A business would benefit most from an appreciation in the currency of the country in which it is based if:

• A.it exports to other countries a significant proportion of its output
• B.it imports a high proportion of the raw materials and components it uses
• C.in its domestic market it faces competition from imports
• D.its production costs are largely domestic labor costs

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Question No : 11
All of the following would lead to fall in the circular flow of national income except which one ?

• A.A fall in business investment
• B.A fall in personal savings rates
• C.A reduction in the level of government expenditure
• D.A rise in the marginal propensity to save

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Question No : 12
All of the following are examples of structural unemployment except which one?

• A.Redundancies in shipbuilding caused by competition from abroad.
• B.Falling employment in manufacturing industry resulting from a decline in consumer incomes.
• C.Unemployment in coal mining caused by the advent of new energy sources.
• D.Above average unemployment rates among low skilled workers.

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Question No : 13
Which ONE of the following increases the price of the shares in ABC plc?

• A.A fall in interest rates
• B.Falling demand for some of ABC's key products
• C.Constant ROCE at ABC plc
• D.News of better economic outlook in ABC's home country

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Question No : 14
The distinguishing feature of a transnational (multinational) company is that

• A.it exports its products to more than one country.
• B.its production process uses inputs from more than one country.
• C.it has production facilities in more than one country.
• D.it has shareholders in more than one country.

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Question No : 15
Which of the following assertions would not be consistent with supply side economics?

• A.Lower taxation increases national income by reducing disincentives to work and invest
• B.High interest rates may reduce investment expenditure and so harm national income growth
• C.Increasing aggregate demand will not affect national income or the price level
• D.Aggregate supply creates its own demand

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