1 Management accountants must prioritise the goals of the business by considering their responsibilities to various stakeholders.

Put the following responsibilities in the correct order from most important to least important:

I Ethical responsibilities II Altruistic responsibilities III Legal responsibilities IV Economic responsibilities

Select one:

a. IV, I, III, II

b. IV, III, I, II

c. III, IV, I, II

d. III, IV, II, I

2 Concepts in responsibility accounting suggest that an employee who feels happy about their job is a form of:

Select one: a. Extrinsic reward b. Intrinsic reward c. Agency cost d. Employee control

3 Coal companies in Australia operate in a highly competitive environment. Recent deteriorations in foreign trade relations between China and Australia have demonstrated that Australian coal companies face a significant threat. Which of the following statements relating to Porter's 5 Force Model is true? Select one: a. Coal companies face a high threat of new entrants because coal mining requires a low level of financial capital to start a business b. Coal companies face a low threat because there are no substitutes for coal c. Chinese buyers face a high threat because Australian coal producers are considered to be powerful suppliers d. Australian coal suppliers face a high threat because China is considered to be a powerful buyer e. Coal is a good industry because we can eat coal 4 Shelly Ltd is considering purchasing a new delivery van which costs $200,000. If purchased it will generate the following additional cash flows: (Assume that the cash flows are spread out evenly across the year) (ignore taxes).

Year 1: +$80,000 (revenue) & -$40,000 (petrol costs)

Year 2: +$10,000 (revenue) & -$4000 (petrol costs)

Year 3: +$40,000 (revenue) & - $5,000 (petrol costs)

Year 4: +$60,000 (revenue) & - $5,000 (petrol costs)

Year 5: +$120,000 (revenue) & -$24,000 (petrol costs)

Year 6: +$50,000 (revenue) & -$8,000 (petrol costs)

Year 7: +$40,000 (truck sale)

The payback period for this investment is:

Select one: a. 4.2 years b. 4.67 years c. 4.875 years d. 5 years