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The public sector is normally concerned with:

• making profit from the sale of goods.

• providing services to specific groups funded from charitable donations.

• the provision of basic government services.

• raising funds by subscriptions from members to provide common services.

Which of the following does government economic monetary policy relate to?

• Interest rates

• Taxation

• Public borrowing and spending

Downsizing refers to keeping the current management structure, but reducing the number of staff could lead to demotivation among the remaining workers.

• true

• false

Gabriella is considering creating a financial accounting department within her business but is unsure of what such a department would actually do. Which of the following would usually be prepared by a financial accounting department?

• Cost schedules

• Statement of cash flows

• Variance analysis

• Tax calculations

Hofstede looked for national differences in an attempt to find aspects of culture that might influence business behavior. Which of the following is one of Hofstede's key dimensions of national differences?

• Position-Power

• Uncertainty avoidance

• Work-relaxation

• Task-people

Which of the following statements about accounting information is incorrect?

• Some companies voluntarily provide specially prepared financial information to employees.

• Accounting information should be relevant, reliable, complete, objective, and timely.

• Accountants have a strong obligation to ensure that company accounts conform to accounting standards.

• Charity and professional bodies do not have to produce financial statements in the same way as business

Data Protection legislation, such as The Data Protection Act in the UK, typically focuses on:

• Issues concerning data held about incorporated entities.

• Rights of the individual with regards to withholding information about oneself.

• The way data about the individual is to be obtained, used, and stored.

• Aligning the information requirements between different countries.