pathfinder - The Institute of Chartered Accountants of Nigeria

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PATHFINDERSUB-SECTION II: QUANTITATIVE TECHNIQUES ATTEMPT ANY TWO QUESTIONSQUESTION 5A random experiment consists of tossing two coins and a die together.(a) Draw up a table of the sample space for the experiment. (7 Marks)(b)i.The Board of Directors of a bank decides to set up a new branch if at least a tailand an odd number are obtained. Determine the probability that a new branchof the bank would be set up.(3 Marks)(ii) The Board also decides that the branch set up will be headed by an accountantprovided a head and an even number show up. What is the probability that anaccountant would not head the branch?(5 Marks)(Total 15 marks)QUESTION 6A manufacturing company produces three types of items A, B, and C using threedifferent plants I, and II and III. The daily capacities (in hundreds of unit) and thetotal production cost (N) of the three plants are as follows:ITEMSPlants A B C Total Production CostI 4 5 3 N22,000II 1 6 4 N20,000III 2 3 1 N10,000The company‟s objective is to fix a selling price for each type of item in order to breakeven.You are required to:(a) Formulate relevant equations for the problem. (4 marks)(b)Use Cramer‟s rule to obtain the selling price for each type of item in order tomeet the company‟s objective.(11 marks)(Total 15 marks)INTERMEDIATE EXAMINATION - NOVEMBER 201116
PATHFINDERQUESTION 7AWSOL engineering company uses 1,000 original metal cutting tools in its constructionat any given time. The actual cost of each tool is N1,500. The cost of replacing anindividual tool is N4,800 while the cost for group replacement is N2,000. The tablebelow shows the tool life relating to normal load and operating conditions if the entire1,000 tools are replaced at once.Month after replacement 1 2 3 4 5Cumulative percentage (%) of tools thatfailed by the end of the month 10 25 50 80 100You are required to:(a)Calculate:(i)The average lifetime of the tool and hence the average replacement per month(ii) The cost of individual replacement. (7 Marks)(b)Determine:(i)The number of failures in each month, to the nearest whole number,given that the failures are replaced and hence determine the cost ofgroup replacement(ii) Average monthly cost. (7 Marks)(c)Recommend the replacement policy based on your results in (a) and (b) above.(1 mark)(Total 15 marks)INTERMEDIATE EXAMINATION - NOVEMBER 201117
Page 1 and 2: THE INSTITUTE OF CHARTERED ACCOUNTA
Page 3: PATHFINDERTABLE OF CONTENTSSUBJECTS
Page 6 and 7: PATHFINDER8. From the following dat
Page 8 and 9: PATHFINDER16. What type of coeffici
Page 10 and 11: PATHFINDER7. An equipment was purch
Page 12 and 13: PATHFINDERb. The Holdings Construct
Page 14 and 15: PATHFINDERQUESTION 3XYZ Limited man
Page 18 and 19: PATHFINDERSOLUTIONS TO SECTION APAR
Page 20 and 21: PATHFINDERQ12. Input is 2,000 units
Page 22 and 23: PATHFINDER7. N1,930,0008. Labour tu
Page 24 and 25: PATHFINDERCandidates are advised to
Page 26 and 27: PATHFINDERContract - Profit Provisi
Page 28 and 29: PATHFINDERWORKINGS NOTES1. Computat
Page 30 and 31: PATHFINDERLess: Cost of salesProduc
Page 32 and 33: PATHFINDERQUESTION 4Activity Based
Page 34 and 35: PATHFINDERQUESTION 5(a)Sample space
Page 36 and 37: PATHFINDERb = b = 16,000 = 1000-16A
Page 38 and 39: PATHFINDER(c)Group replacement poli
Page 40 and 41: PATHFINDER4. Which of the following
Page 42 and 43: PATHFINDER12. When performing foren
Page 44 and 45: PATHFINDER20. The situations below
Page 46 and 47: PATHFINDERSECTION B: ATTEMPT ANY FO
Page 48 and 49: PATHFINDERYou are required to(a)(b)
Page 50 and 51: PATHFINDER17. D18. E19. E20. CEXAMI
Page 52 and 53: PATHFINDERvi.To avoid sanctions fro
Page 54 and 55: PATHFINDER(v)Critical audit areas i
Page 56 and 57: PATHFINDER(iv)Competence:The intern
Page 58 and 59: PATHFINDER• Supervision and revie
Page 60 and 61: PATHFINDER(vii)The board‟s respon
Page 62 and 63: PATHFINDER(viii) Management may hav
Page 64 and 65: PATHFINDER(iii)(iv)(v)The planning
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PATHFINDEREXAMINERS‟ REPORTThe qu
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PATHFINDER4. What is the period wit
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PATHFINDERD. TenementE. Contentment
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PATHFINDERC. Conditioning FormatD.
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PATHFINDERRentTravelling expenses 4
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PATHFINDERYou are required to(a)Com
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PATHFINDERTAX RATES1. CAPITAL ALLOW
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PATHFINDERSOLUTIONS TO SECTION APAR
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PATHFINDER20. The Federal Inland Re
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PATHFINDERQUESTION 2(a)The advent o
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PATHFINDERNEW DATE (31/12)NOTE:2003
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PATHFINDERor2005 (AYB) 01/01/05 - 3
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PATHFINDER(iii)(iv)(v)Payment of in
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PATHFINDER4. The internet is used t
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PATHFINDER12. The following rate of
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PATHFINDER20. To draw a conclusion
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PATHFINDERSECTION B: ATTEMPT ANY FO
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PATHFINDERQUESTION 5(a)Explain brie
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PATHFINDERii. Semantics: The meanin
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PATHFINDERii. Motivation: Managemen
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PATHFINDERv. Planning: Communicatio
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PATHFINDERStandard Deviation = 26=
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PATHFINDERHypothesis is a tentative
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PATHFINDER(iv)References make use o
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PATHFINDER(iv)(v)The type of statis
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PATHFINDER(ii)Oral Style: A speech
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PATHFINDERQUESTION 6(a) H o : The p
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