True or false (dont need to explain the answer)

1. Information is irrelevant if is capable of changing the decisions of people receiving the information

2. Accounting provides information to guide decisions made by people only outside the organisation

3. The accounts produced by an organisation are influenced by judgements concerning an organisation's responsibilities and its associated accountabilities.

4. In terms of information, information is reliable if it is free from error, complete, partial.

6. If an organisation's primary objective is to reduce greenhouse gas emissions, then the accounting will focus on implementing work health and safety processes and reducing accidents in the workplace.

7. The knowledge and expertise of users need to be considered before providing them with information.

8. Changes in the way the markets are organised and how the members of the society interact can lead to changes in how accounting is taken.

9. It is not an accountant's role to determine what information is important for the stakeholders to take a decision

10. Accounting is excepted to continually change as the expectations and values of the society change and as technology changes

11. Accounting is only a technical practice and produces only financial statements

12. Preparing reports is apractice withimplications, as stakeholders will use an organisation's reports to make decisions based on it. (fill the blank)

13. An organisation's objectives (primary aim) is influenced by how it does its accounting.

question 2. State whether the statement falls under financial accounting or management accounting

1. Focuses on aspects of performance prioritised by management - can be financial or non-financial, depending on what aspects of performance management wants to monitor, control and improve.

2. Main audience of this accounting are managers

3. Reports are made annually or semi-annually for this type of accounting

4. Reports are made as needed- could be daily, weekly, monthly, quarterly, annually or longer term

5. Main audience of this accounting are inventors, potential investors, lenders and other creditors

6. The reports are unregulated, there is much variation in the types of accounts they elect to produce

7. General purpose reports are designed to generally satisfy the needs of existing and potential investors, lenders or other creditors

8. The reports produced are regulated and standardised

9. Special purpose reports to satisfy special information needs of managers

10. the reports focus on past performance

11. reports focuses on projected and past performance and highlights reasons for variances between projected and actual results

12. organisational level of reporting can at an individual level

13. Focuses on both financial and non-financial aspects

14. focuses on producing information about financial position and performance of an organisation.

question 3. Consider the life cycle of a product and state the environmental, social or economical impact at each of the stages.

The mining of required raw materials

The manufacture of the product

The distribution and/or installation of the product

The use and maintenance of the product

The ultimate disposal of product