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QUESTIONS

In this December 2009 edition

Banks of multiple choice questions and objective test questions on every syllabus area

Answers with detailed feedback

Two mock assessments

Fully up to date as at 1 December 2009

BPP Learning Media's i-Pass product also supports this paper

Certificate Paper C1

FUNDAMENTALS OF MANAGEMENT ACCOUNTING

For assessments in 2010 and 2011

Practice & Revision Kit

ii

First edition June 2006 Third edition December 2009

ISBN 9780 7517 8073 4 (previous 9780 7517 5180 2)

British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library

Published by

BPP Learning Media Ltd BPP House, Aldine Place London W12 8AA

www.bpp.com/learningmedia

Printed in the United Kingdom

Your learning materials, published by BPP Learning Media Ltd, are printed on paper sourced from sustainable, managed forests.

All our rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of BPP Learning Media Ltd.

We are grateful to the Chartered Institute of Management Accountants for permission to reproduce past examination questions. The answers to past examination questions have been prepared by BPP Learning Media Ltd.

BPP Learning Media Ltd 2009

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iii

Contents Page

Revision Revising with this Kit ....................................................................................................................................................... iv Effective revision.............................................................................................................................................................. vi

The assessment Assessment technique ..................................................................................................................................................... ix Tackling multiple choice questions.................................................................................................................................. xi Tackling objective test questions .................................................................................................................................... xii

Background Current issues................................................................................................................................................................ xiv Useful websites.............................................................................................................................................................. xiv

Question and answer checklist/index ....................................................................................................... xv

Questions Answers

Question practice Objective test questions .................................................................................................................................... 3 ...................125

Assessment practice Mock assessment 1 ...................................................................................................................................... 235 ...................251 Mock assessment 2 ...................................................................................................................................... 263 ...................281

Review form & free prize draw

iv Introduction

Revising with this Kit

Have you worked through the Paper C1 Study Text and do you feel ready

to start practice and revision?

Go back through your notes and try some of the questions in the Study

Text again.

Did you get the majority of the questions correct?

Read 'Tackling multiple choice questions'

(page xi).

Read 'Tackling objectivetest questions'

(page xii).

You might find it useful to read the relevant

section of the Paper C1 Passcards before you answer questions on a

particular topic.

NO

Go back through your notes and/or look through the

Paper C1 Passcards.

Read 'Effective revision' (page vi).

YES

YES

NO

Attempt a couple ofsets of MCQs and OTs in each

subject area.

Attempt the remainingMCQs and OTs in each area.

Answer all questions.

Introduction v

Read Assessment technique (page ix).

Were you happy with your performance on the questions?

Have another go at the questions with which you

had problems.

NO

Do the two mock assessmentson pages 235 and 263.

YES

vi Introduction

Effective revision This guidance applies if you have been studying for an assessment over a period of time. (Some tuition providers are teaching subjects by means of one intensive course that ends with the assessment.)

What you must remember Time is very important as you approach the assessment. You must remember:

Believe in yourself

Use time sensibly

Believe in yourself

Are you cultivating the right attitude of mind? There is absolutely no reason why you should not pass this assessment if you adopt the correct approach.

Be confident you've passed exams before, you can pass them again

Be calm plenty of adrenaline but no panicking

Be focused commit yourself to passing the assessment

Use time sensibly

1 How much study time do you have? Remember that you must eat, sleep, and of course, relax.

2 How will you split that available time between each subject? A revision timetable, covering what and how you will revise, will help you organise your revision thoroughly.

3 What is your learning style? AM/PM? Little and often/long sessions? Evenings/ weekends?

4 Do you have quality study time? Unplug the phone. Let everybody know that you're studying and shouldn't be disturbed.

5 Are you taking regular breaks? Most people absorb more if they do not attempt to study for long uninterrupted periods of time. A five minute break every hour (to make coffee, watch the news headlines) can make all the difference.

6 Are you rewarding yourself for your hard work? Are you leading a healthy lifestyle?

Introduction vii

What to revise

Key topics

You need to spend most time on, and practise lots of questions on, topics that are likely to yield plenty of questions in your assessment.

You may also find certain areas of the syllabus difficult.

Difficult areas are

Areas you find dull or pointless Subjects you highlighted as difficult when you studied them Topics that gave you problems when you answered questions or reviewed the material

DONT become depressed about these areas; instead do something about them.

Build up your knowledge by quick tests such as the quick quizzes in your BPP Learning Media Study Text and the batches of questions in the i-Pass CD ROM.

Work carefully through examples and questions in the Text, and refer back to the Text if you struggle with questions in the Kit.

Breadth of revision

Make sure your revision covers all areas of the syllabus. Your assessment will test your knowledge of the whole syllabus.

How to revise There are four main ways that you can revise a topic area.

Write it!

Read it!

Teach it!

Do it!

Write it!

Writing important points down will help you recall them, particularly if your notes are presented in a way that makes it easy for you to remember them.

viii Introduction

Read it!

You should read your notes or BPP Learning Media Passcards actively, testing yourself by doing quick quizzes or Kit questions while you are reading.

Teach it!

Asses