NEW 2024 PEREGRINE
EXAM GRADED A+
1. Question: What is the primary purpose of managerial accounting?
○ Answer: The primary purpose of managerial accounting is to provide financial
and non-financial information to managers for the purpose of planning,
controlling, and decision-making within an organization.
2. Question: In a perfectly competitive market, which of the following is true?
○ A) Firms are price setters.
○ B) There are significant barriers to entry.
○ C) Products are differentiated.
○ D) There are many sellers and buyers.
○ Answer: D) There are many sellers and buyers.
3. Question: Which financial statement provides information about a company’s financial
position at a specific point in time?
○ Answer: The balance sheet provides information about a company’s financial
position at a specific point in time, showing assets, liabilities, and equity.
4. Question: What is the concept of "opportunity cost"?
○ Answer: Opportunity cost refers to the value of the next best alternative that
must be foregone when making a decision.
5. Question: According to Maslow's hierarchy of needs, which need is at the top of the
pyramid?
○ Answer: Self-actualization is at the top of Maslow's hierarchy of needs.
:
Business and Management
1. Question: What is the main objective of strategic management?
○ Answer: The main objective of strategic management is to achieve and maintain
a competitive advantage.
2. Question: Which leadership style is characterized by a leader making decisions
unilaterally?
○ Answer: Autocratic leadership.
3. Question: What is SWOT analysis used for?
○ Answer: SWOT analysis is used to identify the Strengths, Weaknesses,
Opportunities, and Threats related to a business or project.
4. Question: What does the term "corporate social responsibility" (CSR) refer to?
EXAM GRADED A+
1. Question: What is the primary purpose of managerial accounting?
○ Answer: The primary purpose of managerial accounting is to provide financial
and non-financial information to managers for the purpose of planning,
controlling, and decision-making within an organization.
2. Question: In a perfectly competitive market, which of the following is true?
○ A) Firms are price setters.
○ B) There are significant barriers to entry.
○ C) Products are differentiated.
○ D) There are many sellers and buyers.
○ Answer: D) There are many sellers and buyers.
3. Question: Which financial statement provides information about a company’s financial
position at a specific point in time?
○ Answer: The balance sheet provides information about a company’s financial
position at a specific point in time, showing assets, liabilities, and equity.
4. Question: What is the concept of "opportunity cost"?
○ Answer: Opportunity cost refers to the value of the next best alternative that
must be foregone when making a decision.
5. Question: According to Maslow's hierarchy of needs, which need is at the top of the
pyramid?
○ Answer: Self-actualization is at the top of Maslow's hierarchy of needs.
:
Business and Management
1. Question: What is the main objective of strategic management?
○ Answer: The main objective of strategic management is to achieve and maintain
a competitive advantage.
2. Question: Which leadership style is characterized by a leader making decisions
unilaterally?
○ Answer: Autocratic leadership.
3. Question: What is SWOT analysis used for?
○ Answer: SWOT analysis is used to identify the Strengths, Weaknesses,
Opportunities, and Threats related to a business or project.
4. Question: What does the term "corporate social responsibility" (CSR) refer to?
