CIMA CIMAPRO19-P02-1 問題集

質問 1：
The Chief Executive of a large manufacturing company has made the following comment.
"All of our competitors are using both just-in-time(JIT) and Total Quality Management (TQM) whereas we have never used either. Consequently we are lagging behind our competitors because their levels of inventory and quality costs are significantly below ours. I want to see JIT fully implemented, both for purchasing and for production, in 4 weeks' time and TQM fully implemented 4 weeks after that." Which of the following provide appropriate advice to the Chief Executive?
Select ALL that apply.
A. Full implementation of JIT is unlikely to be successful unless a TQM environment has first been established.
B. Implementing TQM from scratch within 8 weeks should be feasible for a large manufacturing company, but implementing JIT within 4 weeks is unlikely to be feasible.
C. JIT offers the long run prospect of significantly reducing inventory.
D. It would be possible to implement TQM without implementing JIT.
E. It is not possible to implement JIT for production without first implementing JIT for purchasing.
F. Total quality costs are likely to begin declining immediately once the process of implementing TQM has commenced.
正解：A,C,D

質問 2：
The following calculation of the net present value (NPV) of a project has been produced.

By how much can the forecast revenue decrease before the project is not viable?
A. $21,380 in total
B. $20,000 per year
C. 7.2%
D. 35.6%
正解：C

質問 3：
An organization has the right to mine for gold on its land. The price of gold and the cost of extraction are such that mining is not currently financially viable. However, the organization has the right to commence mining at any time in the future if the price of gold increases and makes mining financially viable.
This right to commence mining in the future is an option to:
A. abandon
B. redeploy
C. expand
D. delay
正解：D

質問 4：
An organization has a decentralized structure in which division A supplies division B with an intermediate product for which there is no external market. Division B carries out further processing and then sells the final product on the external market. Due to organizational policy the current transfer pricing basis is variable cost.
The manager of division A has stated, "The current transfer price is unfair because it does not enable us to recoup our costs".
The manager of division B has stated, "The current transfer pricing system enables us to quote competitive prices for the finished product".
The Chief Executive of the organization is considering imposing a transfer pricing policy that uses dual pricing.
Dual pricing would:
A. be welcomed by both divisional managers.
B. involve a lump sum payment to division A in addition to the payment of the variable cost per unit.
C. increase divisional autonomy.
D. be welcomed by the manager of division A but the manager of division B would resist it.
正解：A

質問 5：
A company is considering investing $680,000 in a machine to manufacture a new product. A consultant has been appointed to advise on the investment and the company is committed to paying $10,000 to the consultant in year 1, even if the project does not go ahead.
300,000 units of the new product will be produced and sold each year. Unit cost and revenue information based on this level of output is as follows.

60% of the overhead cost is variable. Of the remainder, 10% consists of allocated head office overheads.
The selling price will increase by 2% each year in line with inflation, beginning in year 2. Fixed price contracts mean that all unit costs will remain unaltered.
Taxation information:
* 100% first year allowance will be available for the purchase of the machinery.
* The taxation rate is 30% of taxable profits, payable in the year after that in which the liability arises.
For the purpose of deciding whether to proceed with the investment, what is the relevant cash flow in year 2?
A. $1,326,960
B. $1,099,320
C. $1,288,800
D. $1,102,320
正解：D

質問 6：
An investment centre is appraising a potential project that is expected to yield a Return on Investment (ROI) of 12%.
Without the project the investment centre expects to earn an ROI of 14%. The cost of capital is 10%.
What would be the impact on the investment centre's performance measures if the project is accepted?
A. Residual Income would increase and ROI would decrease.
B. Residual Income would decrease and ROI would decrease.
C. Residual Income would decrease and ROI would increase.
D. Residual Income would increase and ROI would increase.
正解：A