Upload
dinhnhi
View
231
Download
6
Embed Size (px)
Citation preview
2017 BUSINESS, ACCOUNTING AND FINANCIAL STUDIES
EXAMINATION
PAPER 1
Section A: Multiple-Choice Questions
(selected)
Section B: Questions 1 - 5
Section A: Multiple-Choice Questions
Section A: Multiple-Choice Questions
Section A: Multiple-Choice Questions
Section A: Multiple-Choice Questions
Paper 1B Paper 1 Question 1
Paper 1B Question 1- Marking Scheme
Supplementary marking notes Q1a:
• Two (or more) businesses + form a new business entity + carry out joint
project(s) 1 mark
Two (or more) businesses (two or more owners ×) local company cooperate with overseas company (two companies) to form
a separate entity (company) to carry out joint project(s)
Joint project(s): develop, produce or sell products; with specific purpose
Supplementary marking notes
Q1b: • Advantages: (2 marks for ONE advantage with complete explanation) • easier entry into new market: share of goodwill of the participating
companies (without explaining “such goodwill may help the joint venture partners develop their market connection / know more about the market information) (1 mark only)
• bring in expertise: (knowledge technology goodwill ) • Synergetic effect • business risks can be reduced / decreased / lowered (without
explaining “risks being shared by joint venture partners”) X • Enjoy a lower profit tax ×
PAPER 1B QUESTION 1 – SAMPLE 1E
Relevant explanation on the characteristics of a joint
venture (i.e. a separate entity, formed by two or more
companies and aim at achieving a specific goal).
PAPER 1B QUESTION 1 – SAMPLE 1E
Showed two
advantages
of a joint
venture
with good
elaboration .
PAPER 1B QUESTION 1 – SAMPLE 2E
Unable to define ‘joint venture’ (missing ‘form a new entity’
and ‘to carry out joint projects’).
Showed two advantages without proper
elaboration.
PAPER 1B QUESTION 1 – SAMPLE 3C
考生能完整指出何謂合營企業
考生能清楚地列出合營企業的兩個好處,並附以清晰合理的解釋
PAPER 1B QUESTION 1 – SAMPLE 4C
考生未能完整指出何謂合營企業
考生能列出合營企業的兩個好處,但未能加以解釋
Paper 1B Paper 1 Question 2
Paper 1B Question 2- Marking Scheme
Supplementary marking notes Q2a:
Financial needs:
• paying daily expenses (daily living / daily life) to maintain (keep) her desired
lifestyle
(e.g. leisure, transportation, food, meals, entertainment, travelling, vacation)
• meeting contingencies, e.g. urgent medical expenses
(e.g. accidents, unexpected incidents, financial needs of family members)
• estate planning (expenses on funeral / burial arrangement)
Supplementary marking notes
Q2b:
Responsibilities:
• not to allow others to trade on her account
• to give clear instructions to her financial planner or broker
PAPER 1B QUESTION 2 – SAMPLE 1E
Needs of paying daily expenses and meeting contingencies
were correctly listed with detailed explanations.
Paper 1B Question 2 – Sample 1E
Two responsibilities of Mary were listed correctly.
PAPER 1B QUESTION 2 – SAMPLE 2E
The need of paying daily expenses
was explained repeatedly.
• The right to file a complaint was irrelevant .
• The responsibility to consider Mary’s own
risk tolerance level was correct.
PAPER 1B QUESTION 2 – SAMPLE 3C
考生正確解釋馬莉作為退休人士的兩項財務需要
考生能指出投資者應承擔的兩項責任
PAPER 1B QUESTION 2 – SAMPLE 4C
錯誤以投資工具或金融產品作為財務需要
考生指出投資者的其中一項責任了解投資工具的特性
Paper 1B Paper 1 Question 3
Paper 1B Paper 1 Question 3
Paper 1B Question 3 - Marking Scheme
Supplementary marking notes Q3a:
(i) By functions / Functional departmentalisation / Functional organisation (1)
By functioning (0)
(ii) By products (1)
By production / By goods (0)
Q3c:
• Risk Management Department (1)
• Main role (relevant points)
One role description + at least one relevant / related example (2)
No role mentioned + at least two relevant examples explained (1) To identify and quantify the organisation’s exposures to accidental
loss. e.g. fire. burglary, flooding.(1+1)
To develop and adopt proper financial protection measures through risk
transfer risk avoidance, risk assumption and risk reduction programs. (1+1)
Assess and identify the risks involved in the company’s operation +
elaboration (1+1)
Develop the most suitable methods to protect the company
against different risks + elaboration (1+1)
Supplementary marking notes • Carry out four risks methods including risk avoidance, risk assumption, risk
reduction and risk transfer. (1)
• Responsible to claim compensation and minimize the risk of loss by risk reduction such as providing training to employees reducing operation mistakes.(0)
• Securing and maintaining adequate insurance coverage at the most reasonable cost.(example of risk transfer) ( 0 )
• 為公司預計風險,就公司意外損失作投保….或應對策略.(2)
• 有效地減少,避免或轉移有可能承受的經營風險 (1) (因未有提及角色但舉最少兩例子)
• 作出决策,例如:風險廻避及轉移,從而減低公司的損失. (1)
• 量度及預防企業損失,並且在意外後作出保償(0)
• 防止公司發生任何損失的管理 (0)
• 負責保險索償賠款 (0)
•
Supplementary marking notes
Q.3d Accrual Concept
• Wrong spelling of ‘accrual’ (0)
• All accrued expenses should be recorded in the financial period that accrued (0)
• Recorded +in the financial statements of year incurred = recognized (1)
PAPER 1B QUESTION 3 – SAMPLE 1E
Accurate
explanation on the
main role of the
Risk Management
Department.
Relevant accounting
principle with clear
explanation on
recording the
electricity expense.
Correct Answers
PAPER 1B QUESTION 3 – SAMPLE 2E
Misinterpretation of the main role of the Risk Management Department.
Incorrect form of
departmentalisation
Wrong spelling, no explanation of the Accrual concept
Correct
PAPER 1B QUESTION 3 – SAMPLE 3C
清楚及詳細闡述甲公司風險管理部門的主要角色
能適當利用應計原則解釋電費的記錄
甲及乙部答案正確
PAPER 1B QUESTION 3 – SAMPLE 4C
只能描述乙公司部門劃分方式
未能指岀哪一家公司控制幅度較闊
未能適當闡述甲公司風險管理部門的主要角色
未能適當利用應計原則解釋電費的記錄
正確部門
Paper 1B Paper 1 Question 4
Paper 1B Paper 1 Question 4
Paper 1B Question 4 - Marking Scheme
Paper 1B Question 4 - Marking Scheme
Supplementary marking notes (a)
Trial balance as at 31 December 2016
Dr Cr
$ $ 0.5
1 213 200 1 213 200
2016年12月31日試算表, 試算表2016年12月31日
試算表截至2016年12月31日 X
Supplementary marking notes
Q4b: • moral standards, ethical standards, ethical norms, a set of
moral conducts, a set of moral rules • 倫理標準, 道德標準, 道德規條, 道德規則 1 • a code of ethics, morals or standards of people 0 • non-legal requirements, social responsibilities 0 • 人權道德,社會道德, 應做社會責任, 避免做不道德的事情 0 • govern a business, guide a business, for business to follow • 規範企業, 企業遵守 1 • regulate the operation of a firm 0
Supplementary marking notes Q4c:
• With proper example/elaboration relating to the grocery firm
• Follow the law/ordinance =/= social responsible
PAPER 1B QUESTION 4 – SAMPLE 1E
(b) mentioned both moral rules and
guide behavior of business
(c) provided relevant point
with proper example
(a) well answered
PAPER 1B QUESTION 4 – SAMPLE 1E
(ii) provided relevant point with proper example
PAPER 1B QUESTION 4 – SAMPLE 2E
Well presented.
PAPER 1B QUESTION 4 – SAMPLE 2E
Moral or ethical
principles not
mentioned
The candidate could
not elaborate on what
is meant by a
comfortable working
environment
Relevant illustration
PAPER 1B QUESTION 4 – SAMPLE 3E
Omitted
column
headers
“Dr” and
“Cr”
Irrelevant point
Appropriate
explanation
Relevant
illustration
PAPER 1B QUESTION 4 – SAMPLE 4C
漏寫欄目“借” “貸”
PAPER 1B QUESTION 4 – SAMPLE 4C
考生能提供合適說明,並附以例子
考生描述正確
考生能提供恰當解釋
PAPER 1B QUESTION 4 – SAMPLE 5C
PAPER 1B QUESTION 4 – SAMPLE 5C
考生能提供恰當解釋
考生能提供合適例子,但未能提供說明
考生能提供合適說明並附以例子
PAPER 1B QUESTION 4 – SAMPLE 6C
考生編制的不是試算表
PAPER 1B QUESTION 4 – SAMPLE 6C
不是商號對員工履行的社會責任
描述欠清晰
考生能提供合適說明並附以例子
Paper 1B Paper 1 Question 5
Paper 1B Question 5 - Marking Scheme
Paper 1B Question 5 - Marking Scheme
Supplementary marking notes (a) 純損 / 淨損失 / 淨虧損 / 年度損失
Common mistakes:
• inappropriate heading: as at, without $
• taking capital as opening inventory
• missing closing inventory
• 損益帳
• Dec
• 2016年12月31日 的損益表
(b) MBO, plan, unity of direction (X)
(c)
• set goals provide standards for employees to follow ()
• employees know the goal of the company clearly for them to follow ()
• employees know what the company want them to do ()
• use of resource effectively/有效運用資源 (with appropriate
explanations) ()
• advantages of MBO (X)
PAPER 1B QUESTION 5 – SAMPLE 1E
closing inventory missing,
incorrect Gross profit & Net Loss
PAPER 1B QUESTION 5 – SAMPLE 1E
Candidate could provide one relevant point with explanation.
Repeated point
PAPER 1B QUESTION 5 – SAMPLE 2E
Incorrect COGS and
missing Gross Profit
PAPER 1B QUESTION 5 – SAMPLE 2E
candidate provided
one point without
relevant
explanation
X
X
Irrelevant point
PAPER 1B QUESTION 5 – SAMPLE 3C
PAPER 1B QUESTION 5 – SAMPLE 3C
考生能提供合適例子並附予適切解釋
PAPER 1B QUESTION 5 – SAMPLE 4C
購貨應減購貨退出而不是加
標題欠完整
考生誤把購貨折扣及銀行透支當作營運費用
PAPER 1B QUESTION 5 – SAMPLE 4C
考生能提供合適理由並能附以適切解釋
X
考生能提供合適理由但欠缺解釋