ACCA Mock Test 2 - Online MCQ Exam

Political science has taken a turn toward the social sciences in its studies of__________________?

1 Mark(s)

Your Answer:

law and administration law and administration
the moral effects of government policies
work as a source of identity work as a source of identity
the social impact of government on groups and individuals

Regarding capitalist industrial societies Marx asserted that______________?

1 Mark(s)

Your Answer:

the means of production are controlled by the masses
religion and philosophy are the foundations of society
property is unimportant in the modern state
they contained the seeds of their own destruction

The selling price is added in to repurchase agreement paid interest to calculate ____________?

1 Mark(s)

Your Answer:

direct price of security direct price of security
repurchase price of securities repurchase price of securities
purchase price of security purchase price of security
transaction price of security transaction price of security

The substitution effect of higher wages suggests that as the wage rate increases ?

1 Mark(s)

Your Answer:

leisure becomes less expensive and households buy more of it
leisure becomes more expensive and households buy more of it
leisure becomes more expensive and households buy less of it
leisure becomes less expensive and households buy less of it.

Which tropical fruit is Latin named musa ?

1 Mark(s)

Your Answer:

coconut coconut
Passion fruit Passion fruit
cassava cassava
banana banana

By what method were the first cars ever manufactured produced ?

1 Mark(s)

Your Answer:

Craft method Craft method
Assembly-line method Assembly-line method
Lean-production method Lean-production method
Production-line method Production-line method

The interest rate ?

1 Mark(s)

Your Answer:

is determined in the goods market and influences the level of planned investment and thus the money market
is determined in the money market and influences the level of planned investment and thus the goods market
is determined in the goods market and has no influences on the money market
is determined in the money market and has no influence on the goods market

When a company enters a new product category for which its current brand names are not appropriate it will likely follow which of the following brand strategies ?

1 Mark(s)

Your Answer:

Product extensions Product extensions
Line extensions Line extensions
Brand extensions Brand extensions
New brands New brands

Two or more nuclear families of parent(s) and children is known as ?

1 Mark(s)

Your Answer:

dual family dual family
institutional family institutional family
extended family extended family
two-tier family tree two-tier family tree

Quotas are government-imposed limits on the _________ of goods trade between countries?

1 Mark(s)

Your Answer:

prices prices
quantity quantity
revenue revenue
costs costs

Economic theory predicts that a currency depreciation will least lead to an improvement in the home country’s trade balance when ?

1 Mark(s)

Your Answer:

home demand for imports is inelastic and foreign export demand is inelastic
home demand for imports is elastic and foreign export demand is inelastic
home demand for imports is inelastic and foreign export demand is elastic
home demand for imports is elastic and foreign export demand is elastic

The three most important nations in Asia are_______________?

1 Mark(s)

Your Answer:

Singapore South Korea and Malaysia Singapore South Korea and Malaysia
Hong Kong Macao Bali Hong Kong Macao Bali
Japan India China Japan India China
Taiwan Indonesia Tibet Taiwan Indonesia Tibet

If oligopolists engage in collusion and successfully from a cartel, the market outcome is ?

1 Mark(s)

Your Answer:

the same as if it were served by competitive firms.
efficient because cooperation improves efficiency
the same as if it were served by a monopoly.
known as a Nash equilibrium known as a Nash equilibrium

The basic aspects of product quality must include the ____________?

1 Mark(s)

Your Answer:

design quality design quality
conformance quality conformance quality
scorecard quality scorecard quality
both A and D both A and D

Capital of a business decreases if there is an increase in___________?

1 Mark(s)

Your Answer:

Drawings Drawings
Income Income
Gains Gains
Fresh capital Fresh capital

Brassical in the Latin name for what spice ?

1 Mark(s)

Your Answer:

mustard mustard
pepper pepper
Salt Salt
basil basil

The DuPont Identity tells us that Return on Equity is affected by:

1 Mark(s)

Your Answer:

The DuPont Identity tells us that Return on Equity is affected by:
asset use efficiency (as measured by total assets turnover)
financial Leverage (as measured by equity multiplier)
all of the given options (a, b and c) all of the given options (a, b and c)

Complete currency pass through arises when a 10 percent depreciation in the value of the dollar causes U.S?

1 Mark(s)

Your Answer:

import prices to fall by 10 percent import prices to fall by 10 percent
import prices to rise by 10 percent import prices to rise by 10 percent
export prices to rise by 10 percent export prices to rise by 10 percent
export prices to fall by 10 percent export prices to fall by 10 percent

Which of the following statements is true if the government places a price ceiling on petrol at Rs150 per litre and the equilibrium price is Rs100 per litre ?

1 Mark(s)

Your Answer:

A significant increase in the demand for petrol could cause the price ceiling to become a binding constraint.
A significant increase in the supply for petrol could cause the price ceiling to become a binding constraint.
There will be a shortage of petrol There will be a shortage of petrol
There will be surplus of petrol There will be surplus of petrol

In the short run the level of floating exchange rates is determined mainly by ?

1 Mark(s)

Your Answer:

interest rates interest rates
competitiveness competitiveness
trade trade
speculation speculation

The transition from rural living to city living occurred because_______________?

1 Mark(s)

Your Answer:

there was less need for farm workers as agriculture became mechanized
factories were concentrated in cities factories were concentrated in cities
social change dictated a new fad urban living
of BOTH a decrease in the need for farm workers and the fact that factories were located in cities

The difference between goes investment and net investment is ?

1 Mark(s)

Your Answer:

Depreciation Depreciation
Acceleration Acceleration
Declaration Declaration
Capital investment Capital investment

Monetary policy effects the _________ and __________?

1 Mark(s)

Your Answer:

reserve, unemployment reserve, unemployment
money supply, interest rate money supply, interest rate
taxes, exchange rate taxes, exchange rate
stock price, minimum wage stock price, minimum wage

Social structure refers to_________________?

1 Mark(s)

Your Answer:

biological cell patterns biological cell patterns
norms roles and group in a social system
patterns of individual behavior patterns of individual behavior
what the individual becomes in society what the individual becomes in society

Name the country which has the largest natural gas reserves in the world ?

1 Mark(s)

Your Answer:

India India
Canada Canada
Italy Italy
Russia Russia

In the long run, if a very small factory were to expand its scale of operations it is likely that it would initially experience ?

1 Mark(s)

Your Answer:

an increase in average total costs an increase in average total costs
diseconomies of scale diseconomies of scale
economies of scale economies of scale
constant returns to scale constant returns to scale

The ultimate effect of stratification systems is to________________?

1 Mark(s)

Your Answer:

create inequality create inequality
help people decide whom they should marry
provide a work force for society provide a work force for society
fulfill the laws of nature fulfill the laws of nature

The total indirect cost in the pool by an actual quantity of cost allocation base, is used to calculate ____________?

1 Mark(s)

Your Answer:

actual manufacturing overhead rate actual manufacturing overhead rate
manufacturing overhead costs manufacturing overhead costs
overhead rate overhead rate
direct rate direct rate

A company having a current ratio of 1 will have ________ net working capital.

1 Mark(s)

Your Answer:

Positive Positive
Negative Negative
zero zero
None of the given options None of the given options

The concept of deviance refers to________________?

1 Mark(s)

Your Answer:

going in the wrong direction going in the wrong direction
bad manners bad manners
departure from social norms departure from social norms
reversing one,s opinion reversing one,s opinion

To internalize a positive externality an appropriate public policy response would be to ?

1 Mark(s)

Your Answer:

ban the good creating the externality ban the good creating the externality
tax the good tax the good
subsidize the good subsidize the good
have the government produce the good until the value of an additional unit is zero

The speed with which the prices of stocks are adjusted to unexpected news related to interest rates is called __________?

1 Mark(s)

Your Answer:

news efficiency news efficiency
adjusted efficiency adjusted efficiency
expected efficiency expected efficiency
market efficiency market efficiency

Depreciation Account appearing in the Trial Balance is shown in:

1 Mark(s)

Your Answer:

Profit and Loss A/c Profit and Loss A/c
Trading A/c Trading A/c
Deducted from the concerned assets A/c Deducted from the concerned assets A/c
Shown on the liability side Shown on the liability side

The legal contract which states the legal rights of seller and buyer is classified as ___________?

1 Mark(s)

Your Answer:

long term indenture long term indenture
federal indenture federal indenture
private indenture private indenture
bond indenture bond indenture

The cost which is excluded from inventoriable costs in variable costing method is called _________?

1 Mark(s)

Your Answer:

variable factory overheads variable factory overheads
fixed manufacturing cost fixed manufacturing cost
variable manufacturing costs variable manufacturing costs
fixed factory overheads fixed factory overheads

Which English alphabet is similar to the shape of an account?

1 Mark(s)

Your Answer:

I I
T T
H H
None None

The main problem facing societies with a surplus is_____________________?

1 Mark(s)

Your Answer:

how to get rid of it how to get rid of it
what to produce how produce it and for whom to produce it
there is no problem it is divided equally
how to keep it away from enemies how to keep it away from enemies

Evaluating Your Answers

ACCA Mock Test 2 : Question 1 of 37