A student team was planning strategy for a management game being played in one of their classes. They had to decide whether to price their firm’s products high or low. They know that their subsequent profits in either case depended on whether the economy moved up or down – a […]

The probability distribution showing the number of hours a specially trained accounts clerk is required to work daily is as follows: Hours Frequency 0 0.4 1 0.3 2 0.2 3 0.1 The accounts clerk is assigned to this work daily based on the expected daily requirement. In addition, customers pay […]

A company wishes to change from an old computerised system to a new computer based accounting system. Explain how and why both systems should run parallel prior to the change over the new system (6 marks)

State and explain six examples of controls to prevent unauthorised changes to data files that you would expect to find in a new computer based accounting system (12 marks)

In the context of a computer based accounting system, explain the meaning of the following terms: i) Application controls (5 marks) ii) General controls (5 marks)

You have been asked by your firm to examine the payment vouchers of a company to establish the level of errors and then decide whether better results can be obtained through statistical techniques. Required: a) State the steps you would take in order to test the vouchers for the errors. […]

Briefly but clearly explain the following: (i) A markov chain (3 marks) (ii) The purpose of a markov chain (3 marks) (iii) When a markov chain should be used. (3 marks)

(a) Define the term capital allowances. ( 4 marks) (b) Cindera Enterprises is a partnership manufacturing timber pallets. The partners are L, M and N. The business has an account in the balance sheet entitled “Property”. The account had been used to record a variety of expenditures. At the end […]

The marketing manager of a company manufacturing detergents conducted a survey to assess customers response to new packaging recently introduced. She classified the customers according to gender and from a random sample of 300 customers, she got the following results. Preference New packaging Old packaging Undecided Male 27 14 92 […]