CIMAPRO19-P02-1 試験問題を無料オンラインアクセス

Which THREE of the following are advantages of changing from a 'top-down' to a 'bottom-up' (participative) style of budgeting?

• A.Budget setters will be forced to justify every item on the budget.
• B.Motivation will improve due to a feeling of ownership of the budget.
• C.The budget will be based on information from employees who are familiar with the day to day activities.
• D.It will be less time-consuming for operational managers.
• E.There will be increased commitment to organizational objectives.
• F.There will be reduced likelihood of budgetary slack being built into the budgets for 'selfish' reasons.

One of an investment centre's products is sold on an external market. Output is limited because the specialist machine that manufactures the product is operating at full capacity.
Current data for the product are as follows.

Investigations have identified that more rigorous maintenance of the machine at an annual cost of
$5,000 would reduce the number of breakdowns and increase its capacity to 1,300 units per year.
There would be no change in the selling price if more units were sold. Any additional labor hours would be paid a premium of 25%. A discount of 2% of the cost of all materials purchased is available if the company increases its purchases to 3,700 kg or more per year.
What would be the increase in the investment centre's annual controllable profit if more rigorous maintenance is undertaken?

• A.$26,160
• B.$17,800
• C.$21,400
• D.$23,900

The directors of a company wish to evaluate two mutually exclusive capital investment projects. Both projects have conventional cash flows: an initial outflow followed by a series of annual cash inflows.
The directors are aware of the following three investment appraisal methods: internal rate of return (IRR), net present value (NPV) and accounting rate of return (ARR).
The directors have asked for your advice about which method should be used to evaluate these two projects.
Which of the following is valid advice to give to the directors?

• A.IRR should be used because both NPV and ARR could lead to an incorrect investment decision.
• B.ARR should be used because it is based on profit whereas both IRR and NPV are based on cash flows.
• C.IRR should NOT be used because it could result in multiple IRRs.
• D.NPV should be used because it focuses on wealth creation whereas IRR and ARR are both relative measures.

Which of the following investment appraisal methods provides an absolute monetary value on which to base decisions?

• A.Internal rate of return
• B.Accounting rate of return
• C.Profitability index
• D.Net present value

A Balanced Scorecard is being prepared for a coach passenger transport company. Place the correct perspective of the Balanced Scorecard against each performance measure.

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