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Answer: A

NEW QUESTION: 2
The Framework is described as a conceptual framework when used in the creation of new accounting standards.
Which ONE of the following describes the approach of the Framework?
A. Principles based
B. Rules based
C. Regulatory
D. Statutory
Answer: A

NEW QUESTION: 3
Scenario
Additional Information
Chief Executive Officer (CEO): He started the company 25 years ago and knows his job very well. He injured his leg two years ago which has restricted his visits to the engineering area. As CEO he has an overall perspective of the business strategic requirements and the authority to commit resources as required.
Marketing Director: She has been with the company for three years, following a successful career with a publicity company. She has the ability to represent the needs of the business, particularly as this is a marketing project. She has the authority to commit the annual business marketing budget, from which the project will be funded, as she sees appropriate. She will be responsible for monitoring the expected benefits of the calendar, in particular the improvement of the company's image.
Engineering Manager: He has been responsible for many engineering innovations in the company and is still as keen and energetic as the day he started. VVhilst he will not be part of the project team, his staff will feature in the photos for the promotional calendar.
Central Records: This group of five staff looks after all company records and document control. They now maintain all project files.
Bright Lights: This is the local office supplies company. It supplies all the stationery and office equipment needs of the company and will supply the stationery for this project.
Portraits ltd: This is a professional photographic company with a number of excellent photographers and a history of successful work. This company has been selected to take the photos for the company calendar.
It has yet be decided which of the photographers to use.
Which 2 statements explain why the Purchasing Manager should be appointed as a Senior Supplier for this project?
A. He is responsible for the performance of supplier contracts.
B. He is not appropriate for the role of Executive or Senior User.
C. He is responsible for the organization's procurement activates.
D. He can influence the external supplier's Business Case.
E. He was an engineer and worked in that area before taking up his current position.
Answer: A,C

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