Full E1 Practice Test and 335 Unique Questions, Get it Now!
The Best E1 Exam Study Material Premium Files and Preparation Tool
CIMA E1 (Managing Finance in a Digital World) exam is a fundamental level exam offered by the Chartered Institute of Management Accountants (CIMA). E1 exam is designed to equip candidates with essential skills and knowledge in managing finance in the digital age. E1 exam is one of three exams that candidates must pass to earn the CIMA Certificate in Business Accounting.
NEW QUESTION # 85
Data science is increasingly important in the production of business focused data It consists mainly of experts with backgrounds in mathematics, programming and computer science Which of the following best describes the attributes of a data scientist?
- A. Individuals who flag inefficiencies in the system and potentially suggest improvements and test solutions.
- B. Individuals who can affect or be affected by the organisations actions
- C. individuals with the ability to extract meaning from and interpret data from statistics and machine learning.
- D. Individuals who act as an interface between the business functions and data specialists
Answer: C
NEW QUESTION # 86
The Finance function of XZY company, which is based in the UK. are planning how they can minimise the corporation tax costs Which of the following is correct?
- A. Tax avoidance aims to reduce the amount of tax payable and is legal
- B. Tax avoidance operates within the spirit of the law.
- C. Tax avoidance aims to reduce the amount of tax payable and is illegal
- D. Tax avoidance is the same as tax mitigation
Answer: A
NEW QUESTION # 87
Place 'Management accountant' or 'Financial accounant' next to each of the following statements according to which applies.
Answer:
Explanation:
NEW QUESTION # 88
XY Company has just completed a consumer survey which has produced large quantities of data regarding its products. Which of the following is NOT relevant in the processing of this data?
- A. Meanings are attributed to the data
- B. Data is disseminated to users
- C. Data comparisons are made
- D. Data is filtered for relevance
Answer: B
NEW QUESTION # 89
Which of the following best defines Business Process Re-engineering (BPR)?
- A. BPR is based on the idea that 80% of an outcome is dependant on only 20% of the inputs.
- B. BPR is the continuous examination and improvement of processes.
- C. BPR involves fundamental changes in the way the organisation operates.
- D. The main aim of BPR is to save costs.
Answer: C
NEW QUESTION # 90
K manages the finance function of a cable manufacturing business In order to cope with an increasingly diverse workload K needs human resources to recruit someone with a digital mindset Which THREE of the following individual charactenstics should K emphasise to human resources as important in finding the right candidate?
- A. A 'photographic' memory
- B. A compliant personality
- C. An open-minded outlook
- D. Adopting a 'helicopter view'
- E. A visionary leader
Answer: B,D,E
NEW QUESTION # 91
The psychological contract is by nature:
- A. renegotiated annually between management and unions.
- B. legally enforceable due to custom and practice.
- C. written as part of a worker's terms and conditions.
- D. unwritten and not legally binding.
Answer: D
NEW QUESTION # 92
Which of the following is associated with the control aspect of the finance function?
- A. Amendment of original budgets
- B. Pricing decisions
- C. Investment decisions
- D. Strategy formulation
Answer: A
NEW QUESTION # 93
Which of the following is an example of operational information?
- A. Payroll details
- B. Inventory values
- C. Productivity measures
- D. Sales analysis
Answer: A
NEW QUESTION # 94
There are four approaches to system changeover, each of which varies in terms of risk, cost and time. When there is a need to minimise costs and time the most suitable approach would be:
- A. Phased changeover
- B. Pilot operation
- C. Direct changeover
- D. Parallel running
Answer: C
NEW QUESTION # 95
It can be said that ethics is a set of moral principles underpinning the concept of right and wrong.
Whether an action is actually right or wrong depends on which of the following?
Select ALL that apply.
- A. The legality of the action
- B. The organisational policy
- C. The consequences of the action
- D. The government policy
- E. The motivation for the action
- F. The key values associated with the action
Answer: C,E,F
NEW QUESTION # 96
Company T needs to update its forecast for the remaining 9 months of the financial year to comply with its bank financing convenants. There is a debate between the manufacturing department, which wants to replace some large equipment within the next six months, and the finance function, which wants to ensure that sufficient reserves have built up to fund the purchase outright rather than exploring further financing options. Which conflicting factors are the two departments debating?
Select ALL that apply.
- A. Independence
- B. Capital expenditure
- C. Revenue expenditure
- D. Long term
- E. Short term
Answer: D,E
NEW QUESTION # 97
Which TWO of the following are non-incorporated organisations?
- A. K, who runs a business alone and is entitled to all profits
- B. XY, an organisation whose owners can trade their shares publicly
- C. MN, a family-owned business sharing profits by means of dividends
- D. P and Q who share joint responsibility for their business and all its debts
- E. The British Red Cross Society, a well known charity
Answer: A,D
NEW QUESTION # 98
Which THREE of the following features are associated with a delegated sourcing strategy as part of an organisation's supply network?
- A. Annual formal tendering processes for potential suppliers to undertake
- B. A single supplier
- C. Goods provided by second tier suppliers
- D. The burden of coordination and liaison with suppliers removed from the organisation
- E. Coordination and liaison with suppliers by the organisation's purchasing department
- F. An emphasis on low costs and just-in-time delivery
Answer: B,C,D
NEW QUESTION # 99
During the past six months NVT has been undergoing a study, as part of a rationalisation programme to review the profitability of each of its retail stores.
As a result, 30 stores have been identified for closure T with a further 50 stores selected to receive an investment of funds in order to remain profitable going forward. Throughout this process NVTs finance function has worked alongside others in the organisation providing advice and guidance.
Which TWO of the following areas has the finance function most likely been involved with as part of the review?
- A. Project Management
- B. Financial planning and analysis
- C. Taxation
- D. Project Appraisal
- E. Management accounting
Answer: B,D
NEW QUESTION # 100
A financial training company is reviewing its current HR policy in relation to the ongoing training required by all professionally qualified employees. Part of this process will also help to identify individuals suitable for promotion in the near future.
Which element of the HR cycle is described above?
- A. Development
- B. Acquisition
- C. Maintenance
- D. Separation
Answer: A
NEW QUESTION # 101
Which of the following organisational approaches is associated with the consistent delivery of a product or service?
- A. JIT (just in time)
- B. ISO 9000
- C. Kaizen
- D. Lean
Answer: B
NEW QUESTION # 102
In a manufacturing company, it is important to maintain the correct levels of inventory, with particular attention to holding and ordering costs. For each of the types of costs listed below, identify whether these are holding costs or ordering costs:
Answer:
Explanation:
NEW QUESTION # 103
......
Get Instant Access to E1 Practice Exam Questions: https://pdftorrent.dumpexams.com/E1-vce-torrent.html