A small economy has three main industries which are steel, motor vehicles and construction. The industries are interdependent. Each unit of steel output requires 0.2 units from steel, 0.3 units from motor vehicles and 0.4 units from construction. A unit of motor vehicles output requires 0.2 units from steel, 0.4 […]

List and explain six examples of key control questions that would be suitable for inclusion in an ICEQ for a wages accounting system.

Explain how an Internal Control Evaluation Questionnaire (ICEQ) differs from an Internal Control Questionnaire (ICQ).

Give and explain four merits and four demerits of using a flowchart to record an accounting system. (20 marks)

(a) Define the following terms as used in input-output analysis: (i) Transactions table. (3 marks) (ii) Primary inputs (3 marks) (iii) Technical coefficients. (3 marks) (b) Briefly explain the importance of input-output analysis. (6 marks)

Lilian is the project manager of J Construction Company. The Company is bidding on a contract to install telephone lines in a small town. It has identified the following activities along with their predecessor restrictions, expected times and worker requirements. Activity Predecessors Duration Weeks Crew Size Workers A – 4 […]

State, and explain four attributes of the Beta distribution which made it to be chosen as the distribution of activity times in project evaluation and review technique (PERT).

The auditing standard on subsequent events provide the basic principles and procedures as to the auditor’s responsibilities and deal with: i. Dating the auditor’s report ii. Audit procedures iii. Events after the date of the audit report. Required: a) In the context of subsequent events, what is the significance of […]

Consider the two person zero sum game between players A and B given by the following pay-off table; Player B Strategies 1 2 3 4 Player A Strategies 1 2 2 3 -1 2 4 3 2 6 Required: (i) Using the maximin and minimax values, is it possible to […]