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ACTUAL SMM444 Essentials of Accounting & FinanceEXAM 2026/2027

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Institution CPA - Certified Public Accountant
Course CPA - Certified Public Accountant
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Question 1: (4 marks for each question. Total marks = 20) Read the following questions carefully and choose the best answer for each question: 1. To raise a firm’s long-term finance externally, what is the most appropriate source? a) Accumulated profits b) Bank overdrafts c) Finance leases d) Debt factoring 2. According to Barth et al.’s (2017) study on value relevance, which statement is inaccurate? a) There was nearly zero correlation between operating cash flows and stock price in the 1970s. b) The number of important, value-relevant accounting items has increased over time. c) Net income is the most important accounting item for firms that report losses. d) Macro-economic shocks affect the relative importance of accounting items. 3. Companies sell trade receivables to third-party financial institutions to quickly raise cash before their clients pay for the goods and services received. Then, the clients will make payments directly to the financial institutions. What is this source of finance called? a) Hire purchase b) Borrowing c) Invoice discounting d) Debt factoring

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Academic excellence for business
and the professions




Bayes Business School

MSc Marketing Strategy and Innovation
MSc Digital Supply Chain Management

Module Code Exam Title
SMM444 Essentials of Accounting
& Finance

Date Time
January 2026 2hrs. 00 mins
Division of Marks:

The number of marks allocated is shown at the end of each question.
Where marks have been quoted for parts of questions, these are intended to be a helpful guide
to candidates.

Instructions to students:

Answer ALL questions

Answer ALL MULTIPLE - CHOICE QUESTIONS on the PROVIDED ANSWER
SHEET

This paper contains FOUR questions and comprises FIVE pages including the title page

Number of answer books to be provided: 1
Whether or not calculators are permitted: Yes

Casio FX-83 GTX, Casio FX-85 GTX, Casio FX-83 GT+, Casio FX-85 GT+
Casio FX-83 MS, Casio FX-85 MS, Casio FX-83 ES, Casio FX-85 ES. Sharp EL-531
Sharp EL-531TH, Sharp EL-531TG

Whether or not dictionaries are permitted: No
Any other additional materials: Multiple choice answer sheet and Instruction sheet
Whether or not the exam paper can be removed from the exam room: No

, Internal Examiner: Dr Jay Heon Jung
External Examiner: Professor Pauline Maclaran

Document information

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Number of pages
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Written in
2025/2026
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