Subject: BUSSINESS, MANAGEMENT & FINANCE

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BMF – Nov 2020 – L1 – SB – Q6 – Basics of Business Finance and Financial Markets

Explanation of loan covenants, reasons and benefits for share repurchase, and features of a finance lease arrangement.

Question

(a) For many loan agreements, the borrower is required to provide undertakings or guarantees of some kind.
Distinguish between covenants and guarantees. (5 Marks)

(b) State THREE reasons why a company will repurchase its shares and THREE benefits that will accrue to the company for doing so. (6 Marks)

(c) Companies can acquire assets with finance lease instead of buying assets with equity or debt capital.
State SIX main features of a finance lease arrangement. (9 Marks)

(Total 20 Marks)

Answer

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Tags: Corporate finance, Finance lease, Guarantees, Loan Covenants, Share repurchase
Level: Level 1

Topic: Basics of Business Finance and Financial Markets
Series: NOV 2020

BMF – Nov 2020 – L1 – SB – Q5 – Investment Decisions

Evaluate the investment project using IRR and advise management on the project feasibility.

Question

Uhuru Nigeria Limited wants to buy a new item of equipment which will be used to improve service delivery to its customers. Using the internal rate of return (IRR) method of investment appraisal, you are required to evaluate the project and advise the management of the company. Estimated cash flows from the project are as provided below:

Year	Cash Flow (N)
0	(400,000)
1	140,000
2	150,000
3	170,000
4	190,000

The expected minimum required rate of return of the company is fixed at 25%.

Answer

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Tags: Capital Budgeting, Cash Flow Analysis, Internal Rate of Return (IRR), Investment Appraisal, Rate of Return
Level: Level 1

Topic: Investment Decisions
Series: NOV 2020

BMF – Nov 2020 – L1 – SB – Q4 – The Role of Professional Accountants in Business and

Explanation of ethical dilemmas, powers of professional bodies, and methods for resolving ethical dilemmas.

Question

(a) Distinguish between ethical dilemma and conflict of interest. (4 Marks)
(b) Globally, professional bodies are backed by law, consequently, a measure of authority is conferred upon them which they regularly exercise whenever the situation or circumstance demands.
State THREE powers of a professional body. (6 Marks)
(c) State FIVE possible ways of resolving ethical dilemma in a business environment. (10 Marks)

(Total 20 Marks)

Answer

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Tags: Business Ethics, Conflict of Interest, Conflict Resolution, Ethical dilemma, Professional Body Powers
Level: Level 1

Topic: The Role of Professional Accountants in Business and Society
Series: NOV 2020

BMF – Nov 2020 – L1 – SB – Q2 – Management, Individual, and Organisational Behaviour

Explanation of reinforcement theory and self-efficacy, and their applications in the business environment.

Question

(a) Describe reinforcement theory and state the main assumption that guides reinforcement theory.
(b) Explain the ways by which reinforcement theory can be employed in the business environment.
(c) What is self-efficacy? State and explain the ways by which levels of self-efficacy impact human functions.

(Total 20 Marks)

Answer

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Tags: Behavioral Theory, Motivation, Positive Reinforcement, Reinforcement Theory
Level: Level 1

Topic: Management, Individual, and Organizational Behavior
Series: NOV 2020

BMF – Nov 2020 – L1 – SB – Q1b – The Business Environment

State five functions each for the Administration and Finance departments of an organization.

Question

Innoson Transport Company plans to create two new departments, administration and finance. In view of this, two managers will be hired to oversee these functional units.
State FIVE functions of each of the two departments.

Answer

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Tags: Cultural Differences, Hofstede's Dimensions, International business, National Culture
Level: Level 1

Topic: The Business Environment
Series: NOV 2020

BMF – Nov 2020 – L1 – SB – Q1a – The Business Environment

Identify and explain Hofstede's five dimensions of national culture.

Question

Geert Hofstede gave an international perspective on suggesting that culture differs among nations.

Identify and explain the FIVE dimensions of national culture as suggested by Hofstede.

Answer

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Tags: Cultural Analysis, Cultural Dimensions, Hofstede, International business, National Culture
Level: Level 1

Topic: The Business Environment
Series: NOV 2020

BMF- Nov 2020 – L1 – SA – Q20 – The Business Environment

Identify the correct statement regarding the laws of demand and supply.

Question

Which of the following statements in relation to the laws of demand and supply is correct?
A. An increase in price leads to an increase in demand
B. A decrease in price leads to a decrease in demand
C. If demand is highly elastic, a reduction in the sales price will result in an increase in total sales revenue
D. The quantity of a good that suppliers are willing to sell falls when the price of the good rises
E. The quantity of a good that suppliers are willing to sell rises when the price of the good falls

Answer

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Tags: Demand, Economic Laws, Supply
Level: Level 1

Topic: The Business Environment
Series: NOV 2020

BMF – Nov 2020 – L1 – SA – Q19 – The Business Environment

Identify a feature of monopolistic competition.

Question

Which of the following is a feature of monopolistic competition?
A. Small number of suppliers
B. Monitors the actions of the other firms
C. Faces a kinked demand curve
D. Knowledge is widespread, but not perfect
E. Decisions of one firm influence the decisions of other firms

Answer

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Tags: Economic theory, Market Features, Monopolistic Competition
Level: Level 1

Topic: The Business Environment
Series: NOV 2020

BMF – Nov 2020 – L1 – SA – Q18 – Business and Organizational Structures and Choices

Identify a key characteristic of a global company.

Question

One of the characteristics of a global company is that:
A. Management makes strategic decisions for each foreign market
B. Products are adapted to the requirements of the local market
C. Marketing is adapted in each country to suit the local culture
D. The value chain in each country of operation is optimised
E. The senior managers are likely to come from different countries

Answer

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Tags: Global Company, International Strategy, Management
Level: Level 1

Topic: Business and Organizational Structures and Choices
Series: NOV 2020

BMF – Nov 2020 – L1 – SA – Q17 – Communications in Business

Identify the decade when early communication models were developed.

Question

Early communication models were developed in the:
A. 1910s
B. 1920s
C. 1930s
D. 1940s
E. 1950s

Answer

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Tags: Business Communications, Communication Models, History
Level: Level 1

Topic: Communications in Business
Series: NOV 2020

BMF – Nov 2020 – L1 – SA – Q6 – Management, Individual, and Organisational Behaviour

Identify the statement that is NOT true of groups with democratic leaders according to Lippitt and White’s leadership style.

Question

In Lippitt and White’s leadership style, which of the following is NOT true of groups with democratic leaders?
A. Members are rebellious and display aggressive behaviour
B. Relationship between the group members and leader is friendly
C. The group members are capable of working independently when the leader is not around
D. The group morale is high
E. Reasonable amount of originality in the work done by the group members

Answer

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Tags: Democratic Leadership, Group Dynamics, Leadership Styles
Level: Level 1

Topic: Management, Individual, and Organizational Behavior
Series: NOV 2020

BMF – Nov 2020 – L1 – SA – Q5 – Basic Management Functions

Identify the role that is NOT typically associated with junior managers and supervisors.

Question

Which of the following is NOT a role associated with junior managers and supervisors?
A. Employee discipline and morale
B. Decide strategy
C. Technical direction of work activities
D. Efficiency control
E. Short term planning

Answer

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Tags: Junior Management, Management Functions, Supervisory roles
Level: Level 1

Topic: Basic Management Functions
Series: NOV 2020

BMF – Nov 2020 – L1 – SA – Q4 – Business and Organizational Structures and Choices

Identify the item that is NOT part of strategic decision-making by the Board of Directors.

Question

Strategic decision making by the Board of Directors includes the following, EXCEPT:
A. Decision to fix appropriate price for the company’s product
B. Setting strategic objectives for the business
C. Decision to withdraw from a market
D. Deciding the major business strategies
E. Setting total borrowing limits for the company

Answer

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Tags: Board of Directors, Business Strategy, Strategic Decision
Level: Level 1

Topic: Business and Organizational Structures and Choices
Series: NOV 2020

BMF – Nov 2020 – L1 – SA – Q3 – The Business Environment

Identify the item that is NOT addressed by the employment law in Nigeria.

Question

Each country has employment laws. Which of the following is NOT addressed by the employment law in Nigeria?
A. Discrimination on the grounds of physical disability, gender, and religion
B. Legislative protection for non-regulated data
C. Minimum acceptable working conditions
D. Minimum monthly rate of pay that may be due to any employee
E. Certain rights against unfair dismissal by an employer

Answer

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Tags: Employment Law, Labor Rights, Legal protection, Nigeria
Level: Level 1

Topic: The Business Environment
Series: NOV 2020

BMF – Nov 2020 – L1 – SA – Q2 – Business and Organizational Structures and Choices

Identify the option that is NOT one of the six inter-related elements of culture within an organisation.

Question

Which of the following is NOT one of the six inter-related elements of culture within an organisation?
A. Control systems
B. Size of the organisation
C. Stories and myths
D. Symbols
E. Routines and rituals

Answer

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Tags: Culture Elements, Management, Organizational Culture
Level: Level 1

Topic: Business and Organisational Structure
Series: NOV 2020

BMF – Nov 2020 – L1 – SA – Q1 – Nature of Business, Types, and Objectives

Identify the item that is NOT of interest to shareholders in an organisation.

Question

Shareholders in large companies are usually investors seeking to earn a return on their investment in the form of dividends and a higher share price. Which of the following is NOT a matter that would be of interest to shareholders in an organisation?
A. A proposal to invest in a major project where the return is high
B. A proposed takeover bid for another company that offers better returns
C. Bonuses and shares
D. High dividend payments
E. Increasing profits and share price

Answer

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Tags: Corporate Actions, Dividends, Investments, Shareholders
Level: Level 1

Topic: Nature of Business, Types, and Objectives
Series: NOV 2020

BMF – MAY 2016 – L1 – SA – Q20 – Management, Individual, and Organisational Behaviour

Multiple choice question on the relationship between job satisfaction and employee behaviors like absenteeism and labor turnover.

Question

Job satisfaction ……………………. relates to absenteeism and labour turnover

A. Positively
B. Negatively
C. Directly
D. Elastically
E. Indirectly

Answer

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Tags: Absenteeism, Job Satisfaction, Labor Turnover
Level: Level 1

Topic: Management, Individual, and Organizational Behavior
Series: MAY 2016

BMF – MAY 2016 – L1 – SA – Q19 – The Business Environment

Multiple choice question on the most likely result of competition in a market.

Question

Which of the following is most likely to be a result of competition?

A. Development of new products
B. Reduction in product quality
C. High prices
D. More monopolies
E. Market regulation

Answer

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Tags: Competition, Market dynamics, Product Development
Level: Level 1

Topic: The Business Environment
Series: MAY 2016

BMF – MAY 2016 – L1 – SA – Q18 – Management, Individual, and Organisational Behaviour

Multiple choice question on the management model that emphasizes leadership motivation over monetary incentives.

Question

‘Leadership motivates the people to work and not the power of money’. This concept is related to the

A. Autocratic model
B. Custodial model
C. Supportive model
D. Collegial model
E. Collective bargaining

Answer

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Tags: Leadership, Management Models, Motivation
Level: Level 1

Topic: Management, Individual, and Organizational Behavior
Series: MAY 2016

BMF – MAY 2016 – L1 – SA – Q17 – Communications in Business

Multiple choice question identifying an example of informal communication in the workplace.

Question

An example of informal communication is

A. Grapevine
B. Buzz
C. Pipeline
D. Noise
E. Uproar

Answer

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Tags: Grapevine, Informal Communication, Workplace Communication
Level: Level 1

Topic: Communications in Business
Series: MAY 2016

Subject: BUSSINESS, MANAGEMENT & FINANCE

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BMF – Nov 2020 – L1 – SB – Q6 – Basics of Business Finance and Financial Markets

Explanation of loan covenants, reasons and benefits for share repurchase, and features of a finance lease arrangement.

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BMF – Nov 2020 – L1 – SB – Q5 – Investment Decisions

Evaluate the investment project using IRR and advise management on the project feasibility.

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BMF – Nov 2020 – L1 – SB – Q4 – The Role of Professional Accountants in Business and

Explanation of ethical dilemmas, powers of professional bodies, and methods for resolving ethical dilemmas.

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BMF – Nov 2020 – L1 – SB – Q2 – Management, Individual, and Organisational Behaviour

Explanation of reinforcement theory and self-efficacy, and their applications in the business environment.

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BMF – Nov 2020 – L1 – SB – Q1b – The Business Environment

State five functions each for the Administration and Finance departments of an organization.

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BMF – Nov 2020 – L1 – SB – Q1a – The Business Environment

Identify and explain Hofstede's five dimensions of national culture.

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BMF- Nov 2020 – L1 – SA – Q20 – The Business Environment

Identify the correct statement regarding the laws of demand and supply.

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BMF – Nov 2020 – L1 – SA – Q19 – The Business Environment

Identify a feature of monopolistic competition.

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BMF – Nov 2020 – L1 – SA – Q18 – Business and Organizational Structures and Choices

Identify a key characteristic of a global company.

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BMF – Nov 2020 – L1 – SA – Q17 – Communications in Business

Identify the decade when early communication models were developed.

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BMF – Nov 2020 – L1 – SA – Q6 – Management, Individual, and Organisational Behaviour

Identify the statement that is NOT true of groups with democratic leaders according to Lippitt and White’s leadership style.

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BMF – Nov 2020 – L1 – SA – Q5 – Basic Management Functions

Identify the role that is NOT typically associated with junior managers and supervisors.

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BMF – Nov 2020 – L1 – SA – Q4 – Business and Organizational Structures and Choices

Identify the item that is NOT part of strategic decision-making by the Board of Directors.

You're reporting an error for "BMF – Nov 2020 – L1 – SA – Q4 – Business and Organizational Structures and Choices"

BMF – Nov 2020 – L1 – SA – Q3 – The Business Environment

Identify the item that is NOT addressed by the employment law in Nigeria.

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BMF – Nov 2020 – L1 – SA – Q2 – Business and Organizational Structures and Choices

Identify the option that is NOT one of the six inter-related elements of culture within an organisation.

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BMF – Nov 2020 – L1 – SA – Q1 – Nature of Business, Types, and Objectives

Identify the item that is NOT of interest to shareholders in an organisation.

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BMF – MAY 2016 – L1 – SA – Q20 – Management, Individual, and Organisational Behaviour

Multiple choice question on the relationship between job satisfaction and employee behaviors like absenteeism and labor turnover.

You're reporting an error for "BMF – MAY 2016 – L1 – SA – Q20 – Management, Individual, and Organisational Behaviour"

BMF – MAY 2016 – L1 – SA – Q19 – The Business Environment

Multiple choice question on the most likely result of competition in a market.

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BMF – MAY 2016 – L1 – SA – Q18 – Management, Individual, and Organisational Behaviour

Multiple choice question on the management model that emphasizes leadership motivation over monetary incentives.

You're reporting an error for "BMF – MAY 2016 – L1 – SA – Q18 – Management, Individual, and Organisational Behaviour"

BMF – MAY 2016 – L1 – SA – Q17 – Communications in Business

Multiple choice question identifying an example of informal communication in the workplace.

You're reporting an error for "BMF – MAY 2016 – L1 – SA – Q17 – Communications in Business"

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