Microeconomics Answers

10. What will you need to consult with users about in regards to the system documentation?

9. What will you need to consider when thoroughly and accurately preparing your system supporting documentation?

8. What information should be included in formal written confirmations from users about the new systems

19. At what times should you run an integrity report to ensure the integrity of systems and records complies with all organisational and statutory requirements

23. Why is it important to standardise and use structured formats for the sources of input data and documentation?

22. What methods could be used to communicate and promote the processes for recording and classifying transactions, to support the internal verification of records

21. What information is required for analysing and accounting for transactions relating to a specific accounting period?

e) List three (3) key accounting standards related to preparation of financial reports.

c. Consider the market for brown rice and assume that this market is initially in equilibrium. Suppose that there is an increase in income and that brown rice is an inferior good. At the same time there is a decrease in the number of farmers producing brown rice. What happens in the market for brown rice given that the effect of the increase in income is stronger?

b. Imagine that the demand for Bangladesh’s Cricket Team’s Jersey has increased due to an upcoming Cricket match. At the same time, there is a workers’ strike going on at the Chittagong seaport and Jersey manufacturers have very little supply of the raw material needed to make these Jersey. Draw a demand-supply diagram to show what happens in the market for Bangladeshi Jerseys. Assume they are initially at equilibrium.