Part i Insight March 2011

8/13/2019 Part i Insight March 2011

1/75

INSIGHT

EXAMINERS GENERAL COMMENTS

BREACH OF EXAMINATION INSTRUCTIONS

IN SPITE OF THE EXAMINERS GENERAL COMMENT IN PREVIOUS EDITIONS OF

THE INSIGHT, IT WAS OBSERVED THAT A NUMBER OF CANDIDATES HAVE

CONTINUED TO BREACH EXAMINATION INSTRUCTIONS AS STATED BELOW:

A) BY ATTEMPTING MORE QUESTIONS THAN ALLOWED IN EACH PAPER;

AND

B) BY ATTEMPTING MORE QUESTIONS THAN ALLOWED IN EACH SECTION

INADEQUATE COVERAGE OF THE SYLLABUS

IT HAS BECOME MANIFEST THAT MANY CANDIDATES DO NOT COVER THE

SYLLABUS IN DEPTH BEFORE PRESENTING THEMSELVES FOR THE

EXAMINATION CANDIDATES ARE THEREFORE ADVISED TO BE ADEQUATELY

CONVERSANT WITH ALL ASPECTS OF THE SYLLABUS

ATSWA PART I MARCH 2011 I


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INSIGHT

FOREWORDFOREWORD

T!"# "##$% &' INSIGHT"# ($*"#!%+ ("-."(/**0, "- %#(&-#% 1& / 2&3"-2 +%4/-+, /# /- /"+

1&:

5") C/-+"+/1%# (%(/"-2 1& 3"1% '$1$% %6/4"-/1"&-# &' 1!% I-#1"1$1% &'C!/1%%+ A..&$-1/-1# &' N"2%"/ 5ICAN) /1 /- %7$"8/*%-1 *%8%*;

5"") U-#$..%##'$* ./-+"+/1%# "- 1!% "+%-1"'"./1"&- &' 1!% /%/# "- 3!".! 1!%0* 4/9# /-+ -%%+ 1& "4(&8% 1!%" 9-&3*%+2% /-+ (%#%-1/1"&-;

5""") L%.1$%# /-+ #1$+%-1# "-1%%#1%+ "- /.7$"#"1"&- &' 9-&3*%+2% "- 1!%%*%8/-1 #$%.1 .&-1/"-%+ 1!%%"-; /-+

5"8) T!% (&'%##"&- "- "4(&8"-2 (%%6/4"-/1"&- /-+ #.%%-"-2 (&.%##%#,/-+ #& 1!% (&'%##"&-/* (%'&4/-.%

T!% /-#3%# (&8"+%+ "- 1!"# &&9 +& -&1 %6!/$#1 /** (#"*% /*1%-/1"8% /((&/.!%# 1&

#&*8"-2 1!% 7$%#1"&-# E''&1# !/8% %%- 4/+% 1& $#% 4%1!&+#, 3!".! 3"** #/8% 4$.! &' 1!%

#./.% %6/4"-/1"&- 1"4%

I1 "# !&(%+ 1!/1 1!% #$22%#1%+ /-#3%# 3"** (&8% 1& % &' 1%4%-+&$# /##"#1/-.% 1& #1$+%-1#

/-+ 1!% 3!& /##"#1 1!%4 "- 1!%" (%(//1"&-# '& 1!% I-#1"1$1%# E6/4"-/1"&-#

CONTENTS PAGE

ATSWA PART I MARCH 2011 II

NOTE

A*1!&$2! 1!%#% #$22%#1%+ #&*$1"&-# !/8% %%- ($*"#!%+ $-+%

1!% I-#1"1$1%# -/4%, 1!%0 +& -&1 %(%#%-1 1!% 8"%3# &' 1!%

C&$-."* &' 1!% I-#1"1$1% T!%0 /% %-1"%*0 1!% %#(&-#""*"10 &'

1!%" /$1! /-+ 1!% I-#1"1$1% 3"** -&1 %-1% "-1& /-0

.&%#(&-+%-.% /&$1 1!%4


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INSIGHT

BASIC ACCOUNTING PROCESSES AND SYSTEMS 1 - 25

ECONOMICS 26 - 42

BUSINESS LAW 4 - 55

COMMUNICATION S!ILLS 56 - "0

ATSWA PART I MARCH 2011

III


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INSIGHT

AT#111#PI$1 EXAMINATIONNO%

&&&&&&&&&&&&&

ASSOCIATION OF ACCOUNTANCY BODIES IN WEST AFRICA

ACCOUNTING TECHNICIANS SCHEME

PART I EXAMINATION ' MARCH 2011

BASIC ACCOUNTING PROCESSES AND SYSTEMS

T()* +,,.*/% 3

I3* E7+)(+( )8* ( * 39+:* 9;(/*/ +8;*

SECTION A ' A*)9 A,, Q*3(3

PART I MULTIPLE-CHOICE QUESTIONS


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INSIGHT

D L>,>E L >,

W!".! &' 1!% '&**&3"-2 "1%4# "# NOT/ P&(%10, P*/-1 /-+ E7$"(4%-1=

A M&1& 8%!".*%B L/-+ /-+ $"*+"-2C F$-"1$% /-+ '"11"-2#D C/("1/*E M/.!"-%0

T!% %6.%## &' 1!% #%**"-2 (".% &' 2&&+# &8% 1!% . (".% &' 2&&+# "#:

A M/-$'/.1$"-2 (&'"1#B T&1/* (&'"1C G# (&'"1D D%(/14%-1/* (&'"1E N%1 (&'"1

I' &(%-"-2 #1&.9 "#


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INSIGHT

(% /--$4

A..&$-1"-2 0%/ $-# '&4 K/-$/0 1& D%.%4% W!/1 "# 1!% +%(%."/1"&- .!/2% '& 1!% 0%/=

U-$#%+ .!%7$% &&9#, %.%"(1 /-+ .%+"1 -&1% &&9# 9%(1 $-+% *&.9 /-+ 9%0 /% 9-&3- /#


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INSIGHT

QUESTION 1

A/2/+" !/# %%- "- 1!% %4(*&04%-1 &' G/#1 L"4"1%+ #"-.% < #1K/-$/0 > &- /- /--$/* #/*/0 &' L%>, H"# &1!% /**&3/-.%# /% "-.&-8%-"%-.% /**&3/-.% L% ,, *%/8% /**&3/-.% L% >, /-+ &1!%

/**&3/-.%# L% @,

H% "# 4/"%+ 3"1! 13& .!"*+%- /11%-+"-2 #%.&-+/0 #.!&&*# "- N"2%"/ H% .&-1"$1%+ 1& #&."/* #%.$"10

#.!%4%# /-+ 7$/*"'"%# '& 1!% '&**&3"-2 %*"%'#:

L%

M/"/2% ?

C!"*+ %+$./1"&- @

A2%+ +%(%-+%-1 54/6"4$4) @

Y +* *?(*/ %

5/) 5") C/*.$*/1% !"# 2# "-.&4%, 1&1/* #1/1$1&0 +%+$.1"&-# /-+ 1/6/*% (/0

5"") D%1%4"-% -%1 (/0 "- > $#"-2 "-.&4% 1/6 /1% &'


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INSIGHT

("(%# N %/.!

T/+% +"#.&$-1 /1 , 1!% '&**&3"-2 "-'&4/1"&- 3/# %61/.1%+ '&4 !"# &&9#:

B&$2!1

K/-$/0 > ? $-"1# /1


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INSIGHT

5/) D%1%4"-% 1!% .*"-2 #1&.9"-1/+% 1!/1 3&$*+ % #!&3- $#"-2 %/.! &' 1!%#% 4%1!&+#:

" FIFO 5? M/9#)

"" LIFO 5? M/9#)""" A8%/2% C 5? M/9#)

5) D/3 $( 1!% 1/+"-2 /..&$-1 '& 1!% 0%/ #!&3"-2 1!% 2# (&'"1# 1!/1 3&$*+ % %(&1%+ $#"-2%/.! &' 1!% /&8% 4%1!&+# 5 M/9#)


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INSIGHT

D%1 , ,@

C%+"1 ?, @,@

R/1%# (%(/"+ ? >@

5"") L&-21%4 /##%1# /# /1 < K/-$/0 >: L

F$-"1$% ,>

M&1& 8%!".*%# ,

B$"*+"-2# ,

5""") C/#! /1 /-9 &- < K/-$/0 > 3/# L >,

5"8) L&-21%4 /##%1# #!&$*+ % +%(%."/1%+ /# '&**&3#:

F$-"1$% /-+ $"*+"-2#

M&1& 8%!".*%# >

Y +* *?(*/ 9*9+* *%

5/) S1/1%4%-1 &' A''/"# /# /1 < K/-$/0 > 5? M/9#)5) C/#! &&9 5? M/9#)5.) T/+"-2, P&'"1 /-+ L# A..&$-1 /-+ 5@

M/9#)

5+) B/*/-.% #!%%1 /# /1 ?< D%.%4% > 5@

M/9#) , !% ($.!/#%+ 4&1& 8%!".*% '& N>,, H% (&8"+%# '& +%(%."/1"&- $#"-2

1!% %+$."-2 /*/-.% 4%1!&+ /1 1!% /1% &' > (% /--$4 T!% 4&1& 8%!".*% 3/# +"#(%+ &'

&- < K/-$/0 > '& N, A -%3 8%!".*% 3/# &$2!1 "- %(*/.%4%-1 &- 1!% #/4% +/0 '&

N?4"**"&-

Y +* *?(*/ 9*9+* *%

5") M&1& 8%!".*% /..&$-1 5 M/9#)5"") P&8"#"&- '& +%(%."/1"&- /..&$-1 5 M/9#)5""") M&1& 8%!".*% +%(/* /..&$-1 5> M/9#)


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INSIGHT

QUESTION 6

5/) T!% ./#! &&9 /*/-.% &' S%#%*$ S&-# /# /1 ?< D%.%4% > #!&3%+ / +%"1 /*/-.% &'

N,, 3!".! 3/# +"''%%-1 '&4 1!% /*/-.% &- 1!% /-9 #1/1%4%-1

Y&$ "-8%#1"2/1"&- %8%/*%+ 1!% '&**&3"-2:

5") B/-9 .!/2%# &' N?, &- 1!% /-9 #1/1%4%-1 3/# 0%1 1& % (%+ "-1& 1!% ./#! &&9

5"") A .!%7$% &' N@, +/3- 1& (/0 / #$((*"% 3/# (%+ "-1& 1!% ./#! &&9 /# / %.%"(1

5""") A .!%7$% &' N M/9#)

""" T!% /..&$-1"-2 1%/14%-1 &' *"9% "1%4# #!&$*+ % .&-1"-$&$#*0 /((*"%+ '&4 &-%/..&$-1"-2 (%"&+ 1& 1!% -%61 5> M/9#)


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INSIGHT

SECTION A


A

? E

@ D

D

C

E

C

C

>

G# P&'"1S%**"-2 P".%

,

Q


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INSIGHT

EXAMINERS COMMENT

E6.%(1 '& 7$%#1"&- >, 1!% 7$%#1"&-# 3%% 2%-%/**0 2&&+ Q$%#1"&- 13& 3/# 3&-2*0 3&+%+

/-+ #& 1!% /-#3% 3/# +%."+%+ "- '/8&$ &' 1!% ./-+"+/1%# T!% ./-+"+/1%# (%'&4/-.% "#, &-

1!% /8%/2%, 2&&+

SHORT ANSWER QUESTIONS

E-1"10 C&-.%(1

? C%+"1 N&1%

@ L/-+

S"6 0%/# 0%/#

N,>

C/("1/* E4(*&0%+

N@,

S%.$"10 D&.$4%-1#


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INSIGHT

>? D%"1 N&1%

>@ O#&*%1%

> A..$%+ %6(%-#%#A..$/*#

> L/#1"-F"#1&$1 5LIFO)

> C!%7$% C&$-1%'&"*C!%7$% #1$

> C&-1&* /..&$-1T&1/* A..&$-1

> &8%+/3- /*/-.%

W( N*3


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INSIGHT

EXAMINERS COMMENT

A** 1!% S!&1A-#3% Q$%#1"&-# /% .&-#"+%%+ 2&&+ /-+ ./-+"+/1%# 2%-%/**0 #.&%+ /&8%

/8%/2%

SECTION B

SOLUTION 1

5/)" COMPUTATION OF AAGADIS TAXABLE PAY

L* L*

B/#". S/*/0 5>) >,I-.&-8%-"%-.% /**&3/-.% ,L%/8% /**&3/-.% >,

O1!% /**&3/-.% @,G# I-.&4% ?@,

L%##: S1/1$1&0 +%+$.1"&- R%*"%'#:

S&."/* S%.$"10 5>, 6 ) ,A++: A**&3/-.%# 5,>,@,)


17/75


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INSIGHT

SOLUTION 2

K/- 1&-# &'


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INSIGHT

E6/4(*%# &' &&9# &' &"2"-/* %-10 /%:

S/*%# D/0 B&&9 & S/*%# K&$-/*

P$.!/#%# D/0 B&&9 & P$.!/#% K&$-/*

S/*%# R%1$-# B&&9 & R%1$- I-3/+# K&$-/*

P$.!/#%# R%1$- B&&9 & R%1$-# O$13/+# B&&9 G%-%/* K&$-/*

C/#! B&&9

P%110 C/#! B&&9

EXAMINERS COMMENT

T!"# 7$%#1"&- 1%#1%+ 1!% /#". (%(//1"&- &' 1!% &&9 &' ("4% %-10 $1 "- /- /-/*01"./* '&4

C/-+"+/1%# #$..%%+%+ "- +/3"-2 1!% S/*%# D/0 B&&9 $1 '/"*%+ 1& (%#%-1 1!% /-/*0#"# (/1

C/-+"+/1%# /% /+8"#%+ 1& #1$+0 1!% %6/4"-%# #$22%#1%+ #&*$1"&- 8%0 3%** "- ./#% 1!% #$%.1 "#

1%#1%+ /2/"- "- '$1$%

SOLUTION

+


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INSIGHT

>?,> >?,>

L%##:

C*"-2 S1&.9


21/75


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INSIGHT

L%## C*"-2 S1&.9 ,@L%## O(%/1"-2 E6(%-#%#: T%*%(!&-% 539 ?) >,@

R%-1 539 @) >?, I-#$/-.% 539 ) ,

R/1%# 539 ) S/*/"%# >, A+8%1"#%4%-1 , D%(%."/1"&-: F$-"1$% 5N, ) M&1& 8%!".*%# 5N, >) , @,


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INSIGHT

, @,M&1& 8%!".*%# , ,@ ,@@N%1 C$%-1 A##%1#


24/75

INSIGHT

5@) R* A::

5) I3+:* A::


>@ B/* ' @ P L >@>@ >@

B/* + >@

N NC/#! >@, B/* ' >,

B/* .+ ?,>, >,

B/* +


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INSIGHT

5) R+*3 A::


>>

N NB/* ' ? P L

C/#! B/* .+ >@


26/75

INSIGHT

EXAMINERS COMMENT

T!"# "# / 3%** #1$.1$%+ "-.&4(*%1% %.&+# 7$%#1"&- C/-+"+/1%# /((%/ 1& % 8%0 '/4"*"/ 3"1!

1!"# /%/ &' 1!% #0**/$# W!"*% 4 &' 1!% ./-+"+/1%# 3!& /11%4(1%+ 1!% 7$%#1"&- +"+ 3%**,

1!%% 3%% 1!% 3!& .&$*+ -&1 (%(/% 1!% &(%-"-2 #1/1%4%-1 &' /''/"# (&(%*0 /# 1!%0 3%%

$-/*% 1& +"#1"-2$"#! 1!% &(%-"-2 /##%1# '&4 1!% /##%1# /1 .*%

SOLUTION 5


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INSIGHT

PROVISION FOR DEPRECIATION ACCOUNT

N N?, ?,

>, >,?,, @


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INSIGHT

SOLUTION 6

5/)" SESE SONS

ADUSTED CASH BOO! AS AT 1 DEC 200

200 N 200 N

?


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INSIGHT

EXAMINERS COMMENT

D/3"-2 &' / B/-9 R%.&-."*"/1"&- S1/1%4%-1 /'1% 1!% (%(//1"&- &' /- /+$#1%+ ./#! &&9 3/#

1%#1%+ A2/"-, ./-+"+/1%# /% -& +&$1 '/4"*"/ 3"1! 1!% 1&(". /-+ #& 8%0 4/-0 /11%4(1%+ 1!%

7$%#1"&- C/-+"+/1%# 4/& ("1'/** "# "- 1!%" /"*"10 1& 4/9% /+$#14%-1# 1& 1!% ./#! &&9

M &' 1!%4 +"+ 1!%" ./#! &&9 /+$#14%-1# $-+% /-9 %.&-."*"/1"&- #1/1%4%-1 A*#&, 1!%"

/-9 %.&-."*"/1"&- #1/1%4%-1 1"1*% 3/# 3"1! -& %'%%-.% 1& 1!% /..&$-1"-2 (%"&+

P/1 &' 1!% 7$%#1"&- 1%#1%+ ./-+"+/1%# &- 1!%" /"*"10 1& "+%-1"'0 /#". /..&$-1"-2 .&-.%(1#

3!%- 4/+% "- '&4 &' / #1/1%4%-1 M/-0 ./-+"+/1%# /% $-/*% 1& .&%.1*0 "+%-1"'0 1!%

/..&$-1"-2 .&-.%(1#


>


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INSIGHT

ATB C

@ A 4&-&(&*"#1". '"4 3"** %6(/-+ "1# &$1($1 3!%-

A M/2"-/* %8%-$% %6.%%+# 4/2"-/* .


>


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INSIGHT

B M/2"-/* . %6.%%+# 4/2"-/* %8%-$%C M/2"-/* . %7$/*# 4/2"-/* %8%-$%D M/2"-/* %8%-$% "# ("1"8%E M/2"-/* . "# ("1"8%

T!% -%.%##"10 '& %/.! '"4 1& (/0 .*% /11%-1"&- 1& 1!% %!/8"&$ /-+ *"9%*0 %/.1"&- &' "1# "8/*#3!%- (*/--"-2 "1# &3- 4/9%1 #1/1%20 "# / .!//.1%"#1". &'

A P%'%.1 .&4(%1"1"&-B P$% .&4(%1"1"&-C M&-&(&*0D O*"2&(&*0E M&-&(&*"#1". .&4(%1"1"&-

A- "-#1$4%-1 3!".! ./- % %4(*&0%+ 0 1!% E4(*&0%# A##&."/1"&- +$"-2 / 1/+% +"#($1% "#

A #1"9%

B 3&91&$*%C (".9%1"-2D +%4&-#1/1"&-E */.9 *"#1

T!% %6(%-+"1$% 4%1!&+ &' / .*%+ %.&-&40 -/1"&-/* "-.&4% 4&+%* 3!%% 1!% 2&8%-4%-1 "#

(%#%-1 ./- % %(%#%-1%+ 0

A Y C IB Y C I GC Y C I 5X M)D Y G X M

E Y C I G 5X M)

T!% ("-."(*% "- E.&-&4".# 3!".! #!&3# 0 !&3 4$.! ./("1/* !/# 1& % "-.%/#%+ 1& /"#% &$1($1

0 &-% $-"1 "# ./**%+ ("-."(*%

A %7$"*""$4B 4$*1"(*"% C /..%*%/1"&-D 1/6/1"&-E /..&44&+/1"&-

W!".! &' 1!% '&**&3"-2 "# /- "-#1$4%-1 &' 1!% 4&-%0 4/9%1=

A S!/%#B P%'%%+ #1&.9#C B&-+#D B"** &' E6.!/-2%E D%%-1$%


>


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INSIGHT

), 4&-%0 "# +%'"-%+ /# .$%-1*0 &$1#"+% /-9# (*$# ("8/1%*0

!%*+ +%4/-+ +%("1 (*$#

A S/8"-2# +%("1B T"4% +%("1

C Q$/#" M&-%0D P&.9%1 M&-%0E I-1%/-9 1"4% +%("1

PART II SHORT-ANSWER QUESTIONS


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INSIGHT

> A-01!"-2 1!/1 "# 4&-%0 %./$#% 1!% 2&8%-4%-1 !/# +%.*/%+ "1 /# #$.! "# 9-&3-/#

>? T!% 1&1/* /4&$-1 &' 4&-%0 "- 1!% %.&-&40 /1 /-0 4&4%-1 "# 9-&3- /#

>@ TWO"-#1$4%-1# &' '"#./* (&*".0 /% /-+

> T!% 10(% &' $-%4(*&04%-1 /##&."/1%+ 3"1! 1!% (%&(*% .!/-2"-2 "#

> T!% '"-/-."/* 4/9%1 3!%% #!&1 1%4 #%.$"1"%# ./- % &$2!1 /-+ #&*+ "# 1!%

> T!% "-+"%.1 1/6 3!".! ./- % "4(%+ /1 +"''%%-1 #1/2%# &' (&+$.1"&- /-+ +"#1"$1"&- "#1!%

> T!% (/.1".% &' #%**"-2 / 2&&+ "- &1!% .&$-1"%# /1 / (".% *&3% 1!/- 1!/1 .!/2%+ '& 1!%#/4% 2&&+ "- 1!% +&4%#1". 4/9%1 "# 9-&3- /#

> T!% '$** 4%/-"-2 &' 1!% /.&-04 IBRD "#

? T!% 4%1!&+ 1!/1 4%/#$%# 1!% -/1"&-/* "-.&4% 0 /++"-2 1&2%1!% /** 1!% "-.&4%# %/-%+0 1!% '/.1 &' (&+$.1"&- "# 9-&3- /# 1!%

ATTEMPT ANY FOUR QUESTIONS


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INSIGHT

SECTION B MICRO-ECONOMICS

QUESTION 1

5/)D"#1"-2$"#!

%13%%-.!/-2% "-+%4/-+/-+.!/-2% "-7$/-1"10+%4/-+%+5 M/9#)

5) E6(*/"- 3"1! 1!% /"+ &' +"/2/4# !&3 1!% '&**&3"-2 %8%-1# 3"** /''%.1 1!% %7$"*""$4 (".% /-+7$/-1"10 +%4/-+%+ &' .&44&+"10 A 5/ -&4/* 2&&+) "- / .&4(%1"1"8% 4/9%1:

5") A- "-.%/#% "- 1!% (".% &' .&44&+"10 B, / .&4(*%4%-1 1& .&44&+"10 A "- .&-#$4(1"&-5?M/9#)

5"") A '/** "- 1!% (".% &' 1!% 4/"- /3 4/1%"/* $#%+ "- (&+$."-2 .&44&+"10 A5?M/9#)

5""") A #$..%##'$* /+8%1"#"-2 ./4(/"2- 0 #%**%# &' .&44&+"10 A 5? M/9#)


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INSIGHT

QUESTION 2

5/) I+%-1"'0 1!% FOUR4/"- '/.1 &' (&+$.1"&- "-+"./1"-2 !&3 %/.! &' 1!%4 "# %3/+%+5 M/9#)

5) E6(*/"- %/.! &' 1!% '&**&3"-2 .&-.%(1#:

5") E.&-&4". R%-1 5? M/9#) 5"") Q$/#" R%-1 5? M/9#) 5""") T/-#'% E/-"-2# 5? M/9#)


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INSIGHT

SOLUTION TO SECTION A

PART I MULTIPLE CHOICE QUESTIONS


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INSIGHT

>@ T/6/1"&-2&8%-4%-1 #(%-+"-2 & %6(%-+"1$%

> F".1"&-/* $-%4(*&04%-1

> M&-%0 4/9%1

> V/*$% /++%+ 1/6 5VAT)

> D$4("-2> I-1%-/1"&-/* B/-9 '& R%.&-#1$.1"&- /-+ D%8%*&(4%-1

? I-.&4% 4%1!&+

EXAMINERS COMMENT

T!% 7$%#1"&-# /% #1/"2!1 '&3/+ /-+ /% &' +%#"%+ #1/-+/+# O- /8%/2%, ./-+"+/1%#

(%'&4/-.% 3/# '/"

SECTION B ' MICRO ECONOMICS

SOLUTION 1

5/) A .!/-2% "- +%4/-+ "# 3!%- 4&% & *%## &' / .&44&+"10 "# .&-#$4%+ 3!%- 1!% (".%!/# -&1 .!/-2%+ I1 "# #!&3- /# / #!"'1 "- 1!% %-1"% +%4/-+ .$8%

A .!/-2% "- 7$/-1"10 +%4/-+%+ "# 3!%- 4&% & *%## &' / .&44&+" "#.&-#$4%/# / %#$*1

&' / .!/-2% "- 1!% (".% &' 1!% .&44&+"10 I1 (&+$.%# / 4&8%4%-1 /*&-2 1!% #/4%

+%4/-+ .$8%

A .!/-2% "- 7$/-1"10 +%4/-+%+ "# 3!%- 4&% & *%## &' / .&44&+"10 "# .&-#$4%+ /# / %#$*1 &'

/ .!/-2% "- 1!% (".% &' 1!% .&44&+"10 I1 (&+$.%# / 4&8%4%-1 /*&-2 1!% #/4% +%4/-+ .$8%

5) 5")


?@

P".%

D%.%/#% "- +%4/-+ I-.%/#% "- +%4/-+

P

D>

D&

D7

7

&' 1!% ./-+"+/1%#, $1 &-*0 /&$1


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INSIGHT

.&-8%-1"&-/* +%4/-+ #$((*0 +"/2/4 C/-+"+/1%# -%%+ 1& /.7$"% 2&&+ 9-&3*%+2% &' 1!% $#% &'

+%4/-+ #$((*0 +"/2/4 '& #"4(*% %.&-&4". /-/*0#"#


?


41/75

INSIGHT

SOLUTION 2

/ I- %.&-&4". #."%-.%, '/.1 &' (&+$.1"&- /% .*/##"'"%+ /# */-+, */&$, ./("1/* /-+

%-1%(%-%$#!"(

") L/-+ %'%# 1& /** -/1$/* %#&$.%# A# / '/.1& &' (&+$.1"&-, 1!% %3/+ 1& */-+ "# %-1

"") L/&$ %'%# 1& /** !$4/- %''&1# $1"*"#%+ "- 1!% (&+$.1"&- (&.%## T!% %3/+ 1&

*/&$ /% #/*/"%# /-+ 3/2%#

""") C/("1/* %'%# 1& 1!% #1&.9 &' 3%/*1! .%/1%+ 0 4/- 1& % $#%+ "- 1!% (&+$.1"&- &' 2&&+#

/-+ #%8".%# T!% %3/+ 1& ./("1/* "# "-1%%#1

"8) T!% %-1%(%-%$ !"%# /-+ &2/-"J%# &1!% '/.1 &' (&+$.1, /-+ "- 1!% (&.%## !% %/#

1!% "#9 &' (&+$.1"&- T!% %3/+ 1& %-1%(%-%$#!"( "# (&'"1 & *#

) 5") E:)(: R*% I1 "# / 4&-%0 (/04%-1 4/+% '& / '/.1& &' (&+$.1"&-

1!/1 "# &8% /-+ /&8% 1!% 4"-"4$4 (/04%-1 %7$"%+ 1& 9%%( "1 "- "1# (%#%-1 $#%

5"") Q+3( R*% T!"# "# 1!% (/04%-1 '& / '/.1& &' (&+$.1"&- 1!/1 "# 1%4(&/"*0

'"6%+ "- #$((*0

5""") T+3>* E+(3% T!"# %'%# 1& 3!/1 / '/.1& &' (&+$.1"&- %/-# 1& 9%%( "1 "-

"1# (%#%-1 $#%

EXAMINERS COMMENT

A*4 /** 1!% ./-+"+/1%# /11%4(1%+ 1!"# 7$%#1"&- 3!".! 1%#1%+ ./-+"+/1%# 9-&3*%+2% &' #&4% /#".

.&-.%(1# "- 1!% /-/*0#"# &' 1!% (&+$.1"&- (&.%## M&% 1!/- &' 1!% ./-+"+/1%# (%'&4%+ .%+"1/*0

"- 1!% 5A) M/&"10 &' 1!% ./-+"+/1%# #.&%+ J%& 5) "- 1!% (/1 5B); 1!% ("1'/** !%% 3/# +$% 1& '/.1

1!/1 4 &' 1!% ./-+"+/1%# +%4&-#1/1%+ .&4(*%1% "2-&/-.% &' 1!% .&-.%(1# &' %.&-&4". %-1,

7$/#" %-1 /-+ 1/-#'% %/-"-2#

SOLUTION

/ M&-&(&*0 "# / 4/9%1 #1$.1$% "- 3!".! 1!%% "# / #"-2*% '"4 (&+$."-2 / .&44&+"10 &

(&8"+"-2 / #%8".% 1!/1 !/# -& .*% #$#1"1$1%# T!% 4&-&(&*0 '"4 "# / (".%#%11%

%./$#% 1!% #"-2*% '"4 .&-#1"1$1%# 1!% "-+$#10


?


42/75

INSIGHT

S:*3 > )9, 9.*:

" C, > * *(* 399, > + 8+3(: (9% I' 1!% %-1"% #$((*0 &' 1!% /#".

/3 4/1%"/* %7$"%+ "- 1!% (&+$.1"&- &' / .&44&+"10 "# .&-1&**%+ 0 / #"-2*%

'"4, #$.! / '"4 3"** 4&-&(&*"#% 1!% #$((*0 &' 1!% .&44&+"10

"" E:)(*3 > L+*-3:+,* 9/:(%A */2% '"4 4/0 %1/"- / 4&-&(&*0

(&3% 1!&$2! . /+8/-1/2%# 2/"-%+ '&4 1!% $#% &' .#/8"-2 1%.!-&*&20

3!".! %-/*% "1 1& #%** /1 / (".% *&3% 1!/- 1!% $-"1 . &' /-0 #4/** .&4(%1"1&

""" F+:(3* +/ P+*% A '"4 %.&4%# / 4&-&(&*0 '"4 "' "1 "# 1!% &-*0 &-%

2/-1%+ / '/-.!"#% & (/1%-1 "2!1 1& % 1!% &-*0 (&+$.% &' 1!% .&44&+"10 %2

.&(0"2!1 2/-1%+ 0 1!% 2&8%-4%-1 1& /$1! &' &&9# /-+ .&4(%# &' 4$#".,

"-8%-1 &' 4/.!"-%# /-+ %7$"(4%-1#, %1.

"8 S+* M9,% T!% 2&8%-4%-1 4/0 /##$4% 4&-&(&*0 (&3% "- 1!%

(&+$.1"&- &' / .&44&+"10 & "- 1!% (&8"#"&- &' / #%8".% 1& (%8%-1 (%&(*% '&4

%"-2 %6(*&"1%+ & 1& (&8"+% /- %##%-1"/* #%8".% 3!".! ./- -&1 % '"-/-.%+ 0("8/1% %-1%(%-%$#

8 M** +/ A:?(3((% W!%- 13& & 4&% '"4# 4%2% "-1& &-% 1& .&-1&*

4/9%1 #$((*0 1!%0 %#1/*"#! #1&-2 4&-&(&*0 (&3% +"8"-2 /3/0 (&1%-1"/*

.&4(%1"1 A*1%-/1"8%*0, / "2 '"4 4/0 /.7$"% 5$0) / #4/** '"4 1!/1 .&$*+

-& *&-2% &(%/1% (&'"1/*0 1& 2/"- 1&1/* .&-1&* &' 1!% 4/9%1 #$((*0

. T!% 4%1!&+# /8/"*/*% 1& 1!% 2&8%-4%-1 1& +%/* 3"1! 1!% /$#% &' 4&-&(&*0 (&3%

"-.*$+% 1!% '&**&3"-2:

" T+7+(% G&8%-4%-1 4/0 "4(% !%/80 1/6 &- %6.%## (&'"1 %/-%+ 0 1!%

4&-&(&*0 '"4 1& +"#.&$/2% 1!%" (/.1".%#"" N+(+,(3+(%G&8%-4%-1 4/0 1/9% &8% 4&-&(&*"%# &' 2&&+# /-+ #%8".%#

1!/1 /% %##%-1"/* '& 1!% 3%**%"-2 &' 1!% (%&(*% '&4 ("8/1% %-1%(%-%$#

""" P(:* C,: G&8%-4%-1 4/0 "-1&+$.% 4/6"4$4 (".% *%2"#*/1"&- 1& (%8%-1

.&4(/-"%# %#(%."/**0 4&-&(&*0 '"4 '&4 %6(*&"1"-2 .&-#$4%#

EXAMINERS COMMENT

T!"# 7$%#1"&- "# &- 4&-&(&*0 I1 3/# /11%4(1%+ 0 /&$1 &' 1!% ./-+"+/1%# A 2&&+ -$4% &' 1!%

./-+"+/1%# .&$*+ -&1 +%#."% 1!% 4%1!&+# /8/"*/*% 1& 1!% 2&8%-4%-1 1& +%/* 3"1! 1!% /$#% &'

4&-&(&*0 (&3% O- 1!% /8%/2% 1!% (%'&4/-.% 3/# '/" C/-+"+/1%# /% %6(%.1%+ 1& %6(*&% /**

/#(%.1# &' 1!% 1&(".# "- 1!% #0**/$#

SECTION C ' MACRO ECONOMICS


?


43/75

INSIGHT

SOLUTION 4

5/) T!% .&-#$4(1"&- '$-.1"&- %6(%##%# 1!% 2%-%/* %*/1"&-#!"( %13%%-

.&-#$4(1"&- %6(%-+"1$% /-+ 1!% *%8%* &' +"#(/*% "-.&4%

A #"4(*% .&-#$4(1"&- '$-.1"&-: C / Y+

D**)(+3 > C3)9(%

5") I:)*$ T!"# "# 1!% 4 "4(&1/-1 +%1%4"-/-1 &' .&-#$4(1"&- I1 "# %*"%8%+ 1!/1 "1 "#

&-*0 / (&(&1"&- &' /-0 .!/-2% "- "-.&4% 1!/1 "# .&-#$4%+ T!"# (&(&1"&- "# 1!%

4/2"-/* (&(%-#"10 1& .&-#$4% T!% 4(. '/**# /# "-.&4% "-.%/#%# T!% 4(. /-+ 1!%

4(# /++ $( 1& < "% 4(. 4(# 8+( ( * *:) (:,/*3%

5") M&"*"J/1"&- &' #/8"-2# '& "-8%#14%-1 ($(%# T!"# "# "4(&1/-1 %./$#% "-8%#14%-1 "#/ 4/& 3/0 &' "-.%/#"-2 "-.&4% *%8%*

5"") F/."*"1/1"&- &' %6.!/-2% &' 2&&+# /-+ #%8".%# "- /- %''"."%-1 3/0

5""") T!%0 !%*( #$#1/-1"/**0 "- (&4&1"-2 #1/"*"10 /-+ .&-'"+%-.% "- 1!%

%.&-&40 I- 1!"# 3/0, '&%"2- "-8%#1 /-+ *&./* $#"-%## 1!"8%

5"8) T!%0 '/."*"1/1% "-1%-/1"&-/* 1/+% /-+ (/04%-1# 1!&$2! /- %61%-#"&- &' .%+"1 /-+ &1!%

'/."*"1"%# 1& "4(&1%# /-+ %6(&1%#

58) T!%0 /##"#1 2&8%-4%-1 .&-#"+%/*0 "- 1!% "4(*%4%-1/1"&- &' 1!% -/1"&-# '"#./* /-+

4&-%1/0 (&*"."%#

EXAMINERS COMMENTS

T!% 7$%#1"&- %7$"%+ ./-+"+/1%# 1& +%#."% $-"8%#/* /-9"-2, /# 3%** /# !"2!*"2!1 .&44%."/* /-9"-2

/.1"8"1"%# 1!/1 /% +"%.1*0 %*/1%+ 1& (&4&1"&- &' / .&$-10# %.&-&4". 2&31! /-+ +%8%*&(4%-1 T!%

7$%#1"&- 3/# /11%4(1%+ 0 4&% 1!/- &' 1!% ./-+"+/1%# T!% 4/& ("1'/** 3/# 1!% *"#1"-2 &' 1!%

.&-8%-1"&-/* '$-.1"&-# &' .&44%."/* /-9# 3"1!&$1 %8%- *"-9"-2 1!%4 1& %.&-&4". +%8%*&(4%-1

G%-%/**0, / (&& (%'&4/-.% 3/# %.&+%+


@


45/75

INSIGHT

SOLUTION 6

5/) O8*:(;*3 > ECOWAS

5") T!% %*"4"-/1"&- &' .$#1&4# /-+ &1!% +$1"%# &- &1! "4(&1# /-+ %6(&1# &' 4%4%#1/1%#

5"") T!% /&*"1"&- &' 7$/-1"1/1"8% /-+ /+4"-"#1/1"8% %#1".1"&-# &- 1/+% /4&-2 4%4%

#1/1%#

5""") T!% %#1/*"#!4%-1 &' / .&44&- .$#1&4# 1/"'' /-+ .&44%."/* (&*"."%# &- -&-4%4%#

5"8) T!% %*"4"-/1"&- &' /.*%# 1& '%% 4&"*"10 &' (%&(*%, #%8".%# /-+ ./("1/*

58) T!% !/4&-"#/1"&- &' /2".$*1$/* (&*"."%# /-+ (&4&1"&- &' .&44&- (&%.1# /4&-2

4%4% #1/1%#

58") T!% %6%.$1"&- &' &"-1 +%8%*&(4%-1 (&%.1# "- 1!% /%/# &' 1/-#(&1, .&44$-"./1"&-#,

%-%20 /-+ &1!% "-'/#1$.1$/* '/."*"1"%#

58"") T!% !/4&-"#/1"&- &' %.&-&4". /-+ "-+$#1"/* (&*"."%# &' 4%4% #1/1%# /# 3%** /# 1!%

%*"4"-/1"&- &' "-%7$/*"1"%# "- 1!% *%8%*# &' +%8%*&(4%-1 &' %/.! 4%4% #1/1%

58""") T!% %#1/*"#!4%-1 &' '$-+# '& .&&(%/1"&-, .&4(%-#/1"&- /-+

+%8%*&(4%-1

5) E:)(: P8,*)3 > ECOWAS

5") S:+, W*+*33 > )*)8*3 *:)(*3 M%4% .&$-1"%# &' ECOWAS /%

(*/2$%# 0 #%"&$# #1$.1$/* (&*%4#, -/4%*0 *&3 (% ./("1/* "-.&4%, *&3 & -%2/1"8%

/1%# &' #/8"-2#, *&3 "-8%#14%-1 /-+ GDP 2&31!, !"2! (&($*/1"&- 2&31! /1%, .!&-"./*/-.% &' (/04%-1#, $-%4(*&04%-1 /-+ !"2! /1%# &' "-'*/1"&-

5"") P,+( C>,(:3% E/.! 4%4% $-+%1/9%# %.&-&4". (*/--"-2 "- 1%4# &' "1# -/1"&-/*

2&/*# /-+ 3"1!&$1 %'%%-.% 1& 1!% ECOWAS %2"&-/* 2&/*#

5""") E:)(: C9(% A*4 /** 4%4%# &' ECOWAS /% (*/2$%+ 3"1! 4/##"8%

.&$(1"&- T!"# 1%-+# 1& $-+%4"-% 1!% "-1%-/* /-+ %61%-/* /*/-.% &' 4%4%#

%.&-&4"%#

5"8) I)9+: > F*( E:)(: A*3% T!% &(%/1"&- /-+ "-1%%#1# &' '&%"2- %.&-&4".

/2%-1# /% -&1 /*3/0# -%.%##/"*0 "- .&-'&4"10 3"1! %.&-&4". "-1%%#1 &' 4 .&$-1"%#

/-+ "- #&4% ./#%# /% +%1"4%-1/*

58) D(3(8(+, I*?+,((*3% T!% "##$% &' 3!& 2%1# 3!/1 /-+ !&3 4$.! "- / %2"&-/*&2/-"#/1"&- "# &'1%- #%-#"1"8% T!% +"''%%-1"/*# "- %#&$.% %-+&34%-1 "- 1!% ECOWAS

.&$-1"%# .&$*+ #%1 1!% #1/2% '& +%8%*&(4%-1 "-%7$/*"1"%# /-+ %2"&-/* #1/"-#

58") M*+/-+ F"-/-."/* P&*%4#: ECOWAS 4%4% #1/1%# $#% +"''%%-1 .$%-."%#

S$.! / +"8%#"10 &' .$%-."%# "# &$-+ 1& .%/1% (&*%4# &' %6.!/-2% /1% .&-8%1""*"10

/-+ 4&-%1/0 1/-#'%#


@>


46/75

INSIGHT

EXAMINERS COMMENT

T!"# 7$%#1"&- 1%#1%+ ./-+"+/1%# 9-&3*%+2% &' 1!% &%.1"8%# /-+ %.&-&4". (&*%4# &'ECOWAS E4(!/#"# &- 1!% #&."/* /-+ (&*"1"./* (&*%4# &' ECOWAS 0 #&4% &' 1!%./-+"+/1%# /# /2/"-#1 %.&-&4". (&*%4# #(%."'"./**0 %7$"%+ "- (/1 5) 3/# 1!% 4/& ("1'/**A&$1 @ &' 1!% ./-+"+/1%# 3!& /11%4(1%+ 1!% 7$%#1"&- #.&%+ (/## 4/9#

T!% ./-+"+/1%# ("1'/** 3/# 1!%" %4(!/#"# &- 1!% #&."/* /-+ (&*"1"./* (&*%4# &' ECOWAS /#

/2/"-#1 %.&-&4". (&*%4# 3!".! 3/# #(%."'"./**0 %7$"%+ "- (/1 5)

AT/111/PI.3 EXAMINATION NO:

ASSOCIATION OF ACCOUNTANCY BODIES IN WEST AFRICA

ACCOUNTING TECHNICIANS SCHEME

PART I EXAMINATION ' MARCH 2011

BUSINESS LAW


@?


47/75

INSIGHT

T()* +,,.*/% 3

Insert your examination number in the space provided above

SECTION A - A*)9 A,, Q*3(3



48/75

INSIGHT

D R"2!1 1& (&(%10E R"2!1 1& 1/-#'% #!/%#

M%4&/-+$4 &' A##&."/1"&- 5R%2$*/1"&-#) &' / .&4(/-0 4$#1 .&-1/"- 1!% '&**&3"-2 EXCEPT%

A N/4% &' 1!% .&4(/-0B N/4% &' 1!% D"%.1C N/4%# &' 1!% A$+"1D T!% #!/% ./("1/* &' 1!% .&4(/-0E T!% &%.1 .*/$#%

I- 3"-+"-2 $( / .&4(/-0, 4&-%0 %/*"J%+ '&4 +"#(/* &' 1!% /##%1# &' 1!% .&4(/-0 "# (/0/*%

1& /-0 &' 1!% '&**&3"-2 EXCEPT%

A S%.$%+ C%+"1B C%+"1 '& *"7$"+/1"&- .# /-+ %6(%-#%#

C P%'%%-1"/* .%+"1D O+"-/0 .%+"1E S(%."/* .%+"1

W!".! &' 1!% '&**&3"-2 "# NOT/ .!//.1%"#1". &' / "** &' %6.!/-2%=

A I1 4$#1 % "- 3"1"-2B I1 4$#1 % "##$%+ 0 / /-9C I1 4$#1 % #"2-%+ 0 1!% (%#&- 2"8"-2 "1D I1 4$#1 % '& / #$4 .%1/"- "- 4&-%0

E I1 4$#1 % /++%##%+ 0 &-% (%#&- 1& /-&1!% W!".! &' 1!% '&**&3"-2 "# NOT/- /11"$1% &' / .!%7$%=

A A .!%7$% "# &-*0 +/3- &- / /-9%B A .!%7$% "# / *%2/* 1%-+% C A .!%7$% +&%# -&1 -%%+ 1& % /..%(1%+ ("& 1& (/04%-1D C!%7$%# /% .&44&-*0 $#%+ "- +&4%#1". 1/+"-2E A .!%7$% 4/0 % &(%- & .#%+


49/75

INSIGHT

T!% #%.&-+/0 4%/-"-2 /11/.!%+ 1& / !/4*%## #1/1%4%-1 1& (&8% 1!/1 1!% #1/1%4%-1 "#

+%'/4/1&0 "#

? C&44$-"./1"&- &' / +%'/4/1&0 #1/1%4%-1 0 1!% 4/9% 1& /-&1!% (%#&- &1!% 1!/- 1!%.&4(*/"-/-1 "#

@ W!/1 "# 1!% 4%/-"-2 &' 1!% 4/6"4 D%*%2/1$# -&- (&1%#1 +%*%2/% /# "1 /((*"%# 1& / C&-1/.1 &'

A2%-.0=

I' / .$#1&4% .&$-1%4/-+# / .!%7$%, 1!% /-9 4$#1

H% 3!& .&4%# 1& %7$"10 4$#1 .&4% 3"1! /

W!/1 "# 1!% 4 "4(&1/-1 ("-."(*% &' */3 */"+ +&3- 0 1!% H&$#% &' L&+# "- S/*4&- V

S/*4&- 5


50/75

INSIGHT

>> U-+% 1!% %($2-/-.0 1%#1, "- &+% 1& %-'&.% / .$#1&4/0 */3, "1 4$#1 NOT %

>? A !&*+% &' / "** 1!/1 "# .&4(*%1% /-+ %2$*/ &- "1# '/.% '& 8/*$% "# ./**%+

>@ A .&$1 1& 3!".! / *"1"2/-1 '"*%# / ./#% "-"1"/**0 "# / .&$1 &'

> A (%#&- 3!& !/# .&44"11%+ / 1&1 "# /#"./**0 ./**%+

> I- / ./#% "-8&*8"-2 %4(*&0%% /-+ %4(*&0%, volenti non fit injuria "# *"9%*0 1& % /"#%+ 0

3!&4=

> G&&+# /*%/+0 &3-%+ /-+ (#%##%+ 0 1!% #%**% /1 1!% 1"4% &' 1!% .&-1/.1 /% %'%%+ 1& /#

> A- /2%-1 & %(%#%-1/1"8% 3!& !/# %%- .!%- 0 / #!/%!&*+% 1& %(%#%-1 !"4 /1 / 2%-%/*

4%%1"-2 &' / .&4(/-0 "# $#$/**0 ./**%+ /

> T!% (&.%## 3!%%0 / .&4(/-0 .!/-2%# & /4%-+# #&4% /#(%.1# "- "1# A1".*%# &'

A##&."/1"&-I-.&(&/1"&- "# %'%%+ 1& /#

? +3.* 5 M/9#)


@


51/75

INSIGHT

5) A+%# 4&1& ./ &9% +&3- &- / *&-%*0 &/+ A+% /#9%+ S%2$-, 3!& "# (/##"-2 1!/1 3/0 "- !"#

./, "' !% 3"** 1&3 1!% ./ 1& 1!% -%/%#1 2//2% O- /"8/* /1 1!% 2//2%, A+% (&4"#%+ 1& #%-+

S%2$- '"8% 1!&$#/-+ -/"/ 5N,) '& S%2$-# #%8".%# A+% '/"*%+ 1& #%-+ 1!% 4&-%0

S%2$- !/# +%."+%+ 1& #$% A+% '& 1!% 4&-%0

A+8"#% !"4 5 M/9#)


52/75

INSIGHT

QUESTION

5/) S1/1% 1!% 1%#1# 3!".! 4/0 % $#%+ 1& +%1%4"-% 1!% %6"#1%-.% &' / 4/#1%#%8/-1 %*/1"&-#!"( "-

1!% .&-1/.1 &' %4(*&04%-1 5 M/9#)

5) L"8"-2#1&-% 3/# %4(*&0%+ /# 1!% .&4(/-0 %-2"-%% 1& F%%W&*+ C&4(/-0 L"4"1%+ H% "#

-&1%+ '& 2# +"#&%+"%-.% /-+ 2%-%/* "-.&4(%1%-.% 1& 3!".! !"# /11%-1"&- !/+ %%- +/3-

#%8%/* 1"4%# 3"1!&$1 /-0 "4(&8%4%-1

O- 1!% /#"# &' 1!%#% !% 3/# +"#4"##%+ '&4 1!% #%8".% &' 1!% .&4(/-0 '& 2# 4"#.&-+$.1 /-+

!% !/# +%."+%+ 1& #$% 1!% .&4(/-0 '& 3&-2'$* +"#4"##/* A+8"#% !"4

5 M/9#)


53/75

INSIGHT

QUESTION 6

5/) S1/1% THREE&' 1!% .".$4#1/-.%# 3!%- / /-9 4/0 %8%/* +%1/"*# &' / .$#1&4%# /..&$-1 1& /

1!"+ (/10 5 M/9#)

5) W!/1 "# 1!% *%2/* ("1"&- "- 1!% '&**&3"-2 #"1$/1"&-#:

" "-2 B/-9 (/0# / .!%7$% #"2-%+ 0 1!% D"%.1& &' / .&4(/-0 3!% &/+ !/# (/##%+ /

8/*"+ %#&*$1"&- %4&8"-2 1!/1 D"%.1& /# / #"2-/1&0 1& "1# /..&$-1

5? M/9#)

"" A .$#1&4% &' "-2 B/-9 +"#.&8%# 1!/1 !"# #&- !/# '&2%+ !"# #"2-/1$% &- &-% &' !"#

.!%7$%# $1 !% -%2*%.1# 1& "-'&4 1!% /-9 &$1 &' '%/ 1!/1 1!% &0 4/0 % /%#1%+ T!%

#&- ./#!%+ 1!% .!%7$% $1 1!% .$#1&4% .*/"4# 1!/1 1!% /-9 #!&$*+ !/8% +%1%.1%+ 1!%

'&2%0 0 "1#%*' /-+ "# 1!%%'&% -&1 %-1"1*%+ 1& +%"1 !"# /..&$-1

5? M/9#)

""" A .!%7$% .#%+ #(%."/**0 1& B&"1& B/-9 3/# (/"+ "-1& /- /..&$-1 3"1! F*0 B/-9 /-+

.&**%.1%+ '& /- $-/$1!&"J%+ %-+%% T!% &3-% #%%9# 1& %.&8% /2/"-#1 B&"1& B/-9

5? M/9#)


54/75

INSIGHT

T!%#% 3%% .&4($*#&0 7$%#1"&-# 3!".! .$1 /.# 1!% #0**/$# A** ./-+"+/1%# /11%4(1%+ 1!%

7$%#1"&-# $1 1!% 2%-%/* (%'&4/-.% 3/# $#1 /8%/2%



55/75

INSIGHT

> T&1'%/#&

> T!% %4(*&0%

> E6"#1"-2 2&&+#

> P&60

> A*1%/1"&- &' A1".*%#

? S%.$"1"%# /-+ E6.!/-2% C&44"##"&-

EXAMINERS COMMENT

T!%#% /% /*#& .&4($*#&0 7$%#1"&-# /11%4(1%+ 0 /** 1!% ./-+"+/1%# T!% (%'&4/-.% 3/# /*#&$#1 /8%/2%

SECTION B

SOLUTION 1

A


56/75


57/75

INSIGHT

A- %4(*&0%% "%#(%.1"8% &' !"# 2/+% 4/0 % +"#4"##%+ #$44/"*0 "' !% .&44"1# / 2#

4"#.&-+$.1

A- %4(*&0%% "# %6(%.1%+ 1& (#%## 1!% #9"** %7$"%+ '& 1!% %''%.1"8% (%'&4/-.% &' !"# +$10

/-+ / %/.! &' 1!"# "# / 2&$-+ '& +"#4"##/*

L"8"-2#1&-% 3/# -&1%+ '& 2# +"#&%+"%-.% /-+ 2%-%/* "-.&4(%1%-.% T& 2"8% !"4 / '/"

!%/"-2 !"# /11%-1"&- 3/# +/3- 1& 1!%#% #%8%/* 1"4%# 3"1!&$1 "4(&8%4%-1

T!%%'&%, 1!% +"#4"##/* &' L"8"-2#1&-% 3/# -&1 $-*/3'$* /-+ !% !/# -& ./$#% &' /.1"&- /2/"-#1

1!% .&4(/-0

EXAMINERS COMMENT

T!% 13& (/1# &' 1!"# 7$%#1"&- 3%% &- .&-1/.1 &' %4(*&04%-1 I1 3/# /*#& / (&($*/

7$%#1"&- 3!".! 3/# /11%4(1%+ 0 /&$1 &' 1!% ./-+"+/1%# T!% ./-+"+/1%# (%'&4%+ 8%03%** "- 1!% 5/) (/1 $1 -&1 "- 1!% 5) (/1 3!".! 3/# / (&*%4 7$%#1"&- C/-+"+/1%# ("1'/** '&(/1 5) "# "- 1!%" '/"*$% 1& $#1"'0 .&-.*$#"&- 2"8%- H&3%8%, 1!% 2%-%/* (%'&4/-.% "# $#1/8%/2%


@


58/75

INSIGHT

SOLUTION 4 ' S*:( C M+: E:)(:3

@5/) T!% 8/"&$# 3/0# 0 3!".! / (/1-%#!"( ./- % +"##&*8%+ /%:

* 9+(*3 .(: (:,/* * >,,.(%-

5/) W!%- / (/1-% %#"2-#

5) B0 4$1$/* /2%%4%-1 & .&-#%-1

5.) B0 %'*$6"&- &' 1"4%

5+) W!%- 1!% ($(% "- .&4(*%1%+

5%) B0 -&1".% 2"8%- 0 / (/1-%

+ 9+* +/ *3* (:,/* * >,,.(%-

5/) I-#/-"10 &' / (/1-%

5) B%/.! &' (/1-%#!"( /2%%4%-1

5.) W!%% 1!% $#"-%## &' 1!% '"4 ./- &-*0 % $- /1 / *#

5+) W!%% / (/1-% (%#"#1%-1*0 .&44"1# /.1# 3!".! /% (%$+"."/* 1& 1!% $#"-%## &' 1!%

(/1-%#!"(

5%) D%/1! & B/-9$(1.0 &' / (/1-%

5)" DORMANT PARTNER%- A +&4/-1 (/1-% & #*%%("-2 (/1-% "# 1!/1 (/1-% 3!&.&-1"$1%# 1& 1!% ./("1/* &' 1!% $#"-%## $1 3!& +&%# -&1 1/9% /.1"8% (/1 "- 1!% $--"-2 &' 1!%

$#"-%## H&3%8%, !% "# -&1 %6&-%/1%+ '&4 /-0 *"/"*"10 "-.$%+ 0 1!% $#"-%##

"" GENERAL PARTNER%- A 2%-%/* (/1-% & /.1"8% (/1-% "# 1!/1 (/1-% 1!/1 !/# 1!%

"2!1 1& 1/9% (/1 "- 1!% 4/-/2%4%-1 &' 1!% $#"-%## "- 1!% /#%-.% &' /-0 /2%%4%-1 1& 1!%

.&-1/0 H% "# '$**0 *"/*% '& 1!% +%1# &' 1!% (/1-%#!"(

EXAMINERS COMMENT

B&1! (/1# &' 1!"# 7$%#1"&- 1%#1%+ /#(%.1# &' */3 &' (/1-%#!"( I1 3/# / 8%0 (&($*/ 7$%#1"&-/-+ 1!% (%'&4/-.% 3/# /&8% /8%/2% M &' 1!% ./-+"+/1%# 1!/1 /11%4(1%+ 1!% 7$%#1"&- +"+-&1 ./1%2&"J% "-1& .&$1&+%%+ /-+ 8&*$-1/0 /.1# &' (/1-%#

SOLUTION 5

5)/ T!% "##$% "- 1!"# 7$%#1"&- &+%# &- 1!% ("-."(*% &' .&(&/1% (%#&-/*"10



59/75

INSIGHT

U(&- "-.&(&/1"&- / C&4(/-0 %.&4%# /- /1"'"."/* *%2/* (%#&- 3"1! .&-1/.1$/* ./(/."10 /-+ "1

"# 7$"1% #%(//1% '&4 1!% &''".%#, 4%4%# & #!/%!&*+%# &' 1!% C&4(/-0

A..&+"-2*0 1!% /-9 ./- &-*0 %.&8% 1!% *&/-# '&4 A*"1% C&4(/-0 L"4"1%+ /-+ -&1 '&4

G%&2% (%#&-/**0

5) A #/*% &' 2&&+# "# /- /2%%4%-1 3!%%0 &3-%#!"( & 1"1*% "- 1!% 2&&+# "# 1/-#'%%+ 1& 1!%

$0% /1 1!% 1"4% &' 1!% .&-1/.1

A- /2%%4%-1 1& #%** "# /- /2%%4%-1 3!%%0 1!% &3-%#!"( & 1"1*% "- 1!% 2&&+# "# 1& %

1/-#'%%+ /1 / '$1$% 1"4% & #$%.1 1& #&4% .&-+"1"&-# 3!".! 4$#1 % '$*'"**%+ '"#1

EXAMINERS COMMENT

P/1 A &' 1!"# 7$%#1"&- 3/# &- 1!% ("-."(*% &' .&(&/1% (%#&-/*"10 "- .&4(/-0 */3 3!"*% P/1B 3/# &- #/*% &' 2&&+# T!% 7$%#1"&- 3/# -&1 8%0 (&($*/ $1 1!% '%3 ./-+"+/1%# 3!&/11%4(1%+ "1 (%'&4%+ #*"2!1*0 /&8% /8%/2%

SOLUTION 6

5)/ A /-9% 4/0 %8%/* 1!% +%1/"*# &' / .$#1&4%# /..&$-1 1& / 1!"+ (/10 "- 1!% '&**&3"-2

.".$4#1/-.%#:

" W!%% +"#.*$% "# .&4(%**%+ 0 / .&$1 &+%

"" W!%% 1!%% "# / ($*". +$10 1& +"#.*%

""" W!%% 1!% .$#1&4% 2"8%# !"# %6(%## & "4(*"%+ .&-#%-1

"8 W!%% 1!% "-1%%#1 &' 1!% /-9% -%.%##"1/1%# 1!% +"#.*$%

5) " T!% /-9 4/0 -&1 % /*% 1& +%"1 1!% /..&$-1 &' 1!% .&4(/-0 "' "1 "#

/3/% &' 1!% %#&*$1"&- "- 3!".! ./#% "1 3"** % *"/*% '& -%2*"2%-.% $1 "' "1 "#

$-/3/% &' 1!% %#&*$1"&- 1!%- 1!% (/04%-1 "# $#1"'"/*%

"" A .$#1&4% &3%# / +$10 1& "-'&4 !"# /-9 "' !% +"#.&8%# /-0 '&2%0 &' !"# .!%7$%

T!% .$#1&4% !/# .&44"11%+ / %/.! &' 1!"# +$10 T!%%'&% 1!% /-9 "# %-1"1*%+ 1& +%"1

!"# /..&$-1

""" A .!%7$% .#%+ #(%."/**0 "# /- "-#1$.1"&- 1& 1!% /-9 -&1 1& (/0 ./#! /.# 1!% .&$-1%

/-+ 1& (/0 1!% (&.%%+# &' 1!% .!%7$% "-1& 1!% (/1".$*/ /..&$-1 3"1! 1!% -/4%+ /-9 &-

1!% .!%7$% T!%%'&%, 1!% &3-% &' 1!% .!%7$% ./- %.&8% 1!% /4&$-1 "-8&*8%+ '&4

F*0 B/-9 /-+ -&1 '&4 B&"1& B/-9

EXAMINERS COMMENT



60/75

INSIGHT

B&1! (/1# &' 1!"# 7$%#1"&- 1%#1%+ .%1/"- /#(%.1# &' /-9%.$#1&4% %*/1"&-#!"( $-+%-%2&1"/*% "-#1$4%-1# T!% 7$%#1"&- 3/# 8%0 (&($*/ /# /*4 /** ./-+"+/1%# /11%4(1%+ "1T!% (%'&4/-.% 3/# 2%-%/**0 2&&+



61/75

INSIGHT

AT


62/75

INSIGHT

C R%/+, R%./** /-+ R%8"%3

D R$*%, R%."1% /-+ R%8"%3

E R%/+, R$*% /-+ R%8"%3

T!% '&**&3"-2 /% /** .&%.1 EXCEPT

A C&4% !%% 3/# 3!/1 !% #/"+B H% #/"+ .&4% !%%C H% #/"+ .&4% !%%D C&4% !%% !% #/"+E W!/1 !% #/"+ 3/# .&4% !%%

I- 1!% #%-1%-.%, T!% ".! /*#& .0, 1!% $-+%*"-%+ %6(%##"&- "# /5-) (!/#%

A N&4"-/*B A+%.1"8/*C A+8%"/*D P&-&4"-/*

E P%("1"&-/*

T!% '"#1 #0**/*% &' 1!% $-+%*"-%+ 3&+ "- 1!% #%-1%-.%, T!% %6(&1 "# 2&&+ "#

A U-#1%##%+B D"#1%##%+C S1%##%+D P/1"/**0 #1%##%+E P/1"/**0 $-#1%##%+

W!".! &' 1!% '&**&3"-2 .&-1/"-# "##$%# 1!/1 /% 1& % /++%##%+ "- / 4%%1"-2=

A N&1".%

B M%4&/-+$4C I-8"1/1"&-D C".$*/ E A2%-+/


63/75

INSIGHT



64/75

INSIGHT

> GLO, MTN, C%**.&4 /-+ /"- /% -/4%# "- /+8%1"#%4%-1

SECTION B - COMPREHENSION

QUESTION 1

COMPULSORY

R*+/ * >,,.( 9+33+* :+*>,, +/ +3.* * ?*3(3 (%

T!% 4/9%1"-2 .&44$-"./1"&- +"4%-#"&-# &' 1!% "-1%-%1 8/0 S&4% W%/#%+ 1&&*# /% $#%+ '/9%!&*+% .&44$-"./1"&- 5%4(*&0%%#, #$((*"%#, +"#1"$1) /-+ #&4% /% '& /+8%1"#"-2 /-+ &1!%10(%# &' (&4&1"&-

T!% "-1%-%1 !/# 1!% ./(/"*"10 1& +%*"8% "-%6(%-#"8% "-1%-/* .&44$-"./1"&-, 3!".! "# /- "4(&1/-1 (/1

&' "-1%2/1%+ 4/9%1"-2 .&44$-"./1"&- 5IMC) IMC (&2/44%# 10 1& .&&+"-/1% 4/9%1"-2.&44$-"./1"&- /.1"8"1"%# I-1/-%1# /% "-1%-/* .&44$-"./1"&- #0#1%4# 1!/1 .&--%.1 %4(*&0%%# A# /-%6/4(*%, .&-#"+% !&3 /- "-1/-%1 "# $#%+ 3"1!"- /- /+8%1"#"-2 /2%-.0 A .&-.%(1 '& /- /+ ./- %&$2!%+ &$1 /-+ +"#1"$1%+ 1& / -$4% &' (%&(*% 3"1!"- 1!% /2%-.0 '& ."1"7$"-2 T!%#% (%&(*% ./- %*&./1%+ /-03!%% "- 1!% 3&*+, #& 1!% .&44$-"./1"&- "# "-#1/-1/-%&$# /-+ -&1 *"4"1%+ 1& 1!% 8/2/"%# &'1!% 4/"* #0#1%4 E61/-%1# /% #"4"*/ .&44$-"./1"&- #0#1%4# 1!/1 .&--%.1 / .&4(/-0 /-+ "1# %4(*&0%%#1& 9%0 %61%-/* #1/9%!&*+%# #$.! /# .*"%-1#, (!&1&2/(!%#, (&+$.%#, /1"#1#, /-+ &1!% #$((*"%#"-8&*8%+ "- (&+$."-2 /- /+

T!% "-1%-%1 !/# /*#& %.&4% / 4/& "-1%-/* .&44$-"./1"&- #&$.% 3"1! (/##3&+(&1%.1%+ 3%#"1%#'& %4(*&0%%#, 8%-+ /-+ #$((*"%#, +%/*%# /-+ +"#1"$1, /-+ #/*%# %(%#%-1/1"8%# F& 1!% #/*%##1/'', "- (/1".$*/, 1!% B>B 3%(/2% ./- ./0 1!% #/4% "-'&4/1"&- /# /- /+8%1"#%4%-1 & ("-1%+ #/*%#*"1%/1$%, /# 3%** /# &1!% .&(&/1% "-'&4/1"&- I1# /+8/-1/2% "# 1!/1 "1 ./- (&8"+% 4&% "-+%(1!"-'&4/1"&- 1!/- ("-1%+ 4/1%"/*#

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

M "-1%-%1 $#%# +%(%-+ $(&- #%/.! %-2"-%# #$.! /# G&&2*%, Y/!&&, N%1#./(% & A#9 K%%8%#, 1& '"-+

"-'&4/1"&- T!%#% "-1%-%1 1&&*# $#% 9%03&+# #$.! /# 1&(".# & .&4(/-0 & /-+ -/4%#, 1& .&4("*% /.&**%.1"&- &' "-'&4/1"&- %*/1"-2 1& 1!/1 3&+F& 4/9%1%#, /- "4(&1/-1 '"#1 #1%( "- .%/1"-2 / 8"/*% 3%#"1% "# 2%11"-2 "1 %2"#1%%+ 3"1! (&($*/#%/.! %-2"-%# #& 1!/1 "1 %2"-# $"*+"-2 8"#""*"10 /-+ #!&3# $( %/*0 &- 1!% *"#1 (&8"+%+ 0 1!% #%/.!%-2"-%

A-&1!% #%/.! %-2"-% &*% "# 1& (&8"+% / #"1% &- 3!".! /+8%1"#%# ./- (*/.% /+# T!% (!/#% #%/.!4/9%1"-2 +%#."%# /- /((&/.! 1!/1 %*"%# &- /.1"&-# "-"1"/1%+ 0 .&-#$4%# S"-.% 1!%0 /% #%/.!"-2'& /(/1".$*/ 1&("., 3%#"1%# /-+ 1!% /+# &- 1!%4 /% -&1 (%.%"8%+ 1& % /# "-1$#"8% /# &1!% '&4# &'



65/75

INSIGHT

/+8%1"#"-2 B$#"-%##1&$#"-%## 4/9%1"-2 '"-+# 1!%#% /+# 1& % (/1".$*/*0 !"2! "- "4(/.1 F&%6/4(*%, 3!%- C&$2/1%+ M%1/*#, / #!%%14%1/* .&4(/-0 "- C!"./2&, -%%+%+ 1& $"*+ "1# $#"-%##, "1#(%-1 > / 4&-1! 1& 2%1 /- /+ '& "1# $#"-%## 1& (&( $( &- G&&2*% 3!%- /-0&-% #%/.!%+ '& &**'&4"-2, / (&.%## 1!/1 #!/(%# 4%1/* T!% '"4 %(&1%+ 1!/1 3"1!"- +/0#, 1!% /+ 2%-%/1%+ 4"**"&-# &'+&**/# &' #/*%#

Passage adapted from Wells W. et al. (200!" #dvertising Principles and Practice". $e% &erse'

Pearson Prentice )all.

5/) G"8% 1!% (/##/2% / #$"1/*% 1"1*% 5@ M/9#)


66/75

INSIGHT

58""") .&4("*% 5@ M/9#)


67/75

INSIGHT

QUESTION

5/) W!/1 /% .&44/# $#%+ '&= 5M/9#)

5) P$-.1$/1% 1!% '&**&3"-2 (/##/2%:

M/-0 3&+# (&8&9% #1&-2 %4&1"&-/* %/.1"&-# "- 1!% %.%"8% 1!% 3&+ #-/9% +%-&1%# /(!0#"./* &%.1# $1 "1 ./- /*#& (&+$.% #1&-2 '%%*"-2# &' %8$*#"&- 1!%% /% &../#"&-# 3!%-3"1%# +%*"%/1%*0 .!&% 3&+# '& 1!%" /''%.1"8% .&--&1/1"&-# 3!%- .&4("-2/+8%1"#%4%-1# '& %6/4(*% 5


68/75

INSIGHT

E

E4(/1!0

? U(3/+U(3/+ 8%1"./*

@ L"#1%-"-2

L"#1%-"-2 /-+ #(%/9"-2

R%/+"-2

W"11%-

A%8"/1"&-#/.&-04#

H&-&/"$4


69/75

INSIGHT

> T/+%

EXAMINERS COMMENT

T!% 7$%#1"&-# "- 1!"# #%.1"&- &' 1!% (/(% #!&3 /+%7$/1% #(%/+ &' 1!% +"''%%-1 (/1# &' 1!%

#0**/$# C/-+"+/1%# (%'&4/-.% 3/# /8%/2%

SECTION B COMPULSORY

/) T!% &*% $#% &' 1!% "-1%-%1 "- 4/9%1"-2 .&44$-"./1"&-

OR T!% "-1%-%1 /-+ 4/9%1 .&44$-"./1"&-

) 5") I1 "# $#%+ '& .&44$-"./1"-2 %4(*&0%%#, #$((*"%# /-+ +"#1"$1

OR I1 "# $#%+ '& .&44$-"./1"-2 3"1! %*%8/-1 #1/9%!&*+%# "- 1!% $#"-%##

5"") I1 "# $#%+ '& /+8%1"#"-2 /-+ (&4&1"&-#

.) O2/-"#/1"&-# /% /*% 1& .&-1/.1 %4(*&0%%# #(%%+"*0 -& 4/11% 1!%" *&./1"&-# 3"1!&$1 1!%

(&*%4# /##&."/1%+ 3"1! #$'/.% 4/"*

+) T!% 13& /+8/-1/2%# &' 1!% B>B 3% (/2% /%:

5") I1 ./"%# #/*%# 4%##/2%# /-+ &1!% .&(&/1% "-'&4/1"&-

5"") I1 ./"%# 4&% "-'&4/1"&- 1!/- 1!% ("-1 4%+"$4

%) A+8%1"#%# !/8% "-1&+$.%+ 2/4%#, .&-1%#1#, "-1%8"%3# /-+ 4$#"./*

P%'&4/-.%# "-1& 1!%" 3%#"1%# "- &+% 1& /11/.1 /-+ %1/"- 1!%" /$+"%-.%#

') A 4/9%1% $"*+"-2 / 3%#"1% %2"#1%# 3"1! #%/.! %-2"-%# 1& 2/"- /..%##

1& 3"+% 4/9%1# /-+ ($*"."10



70/75

INSIGHT

2) C&-#$4%# %2/+ /+8%1# /-+ 3% #"1%# &- 1!%" 1&(". &' "-1%%#1

$-"-1$#"8% %./$#% 1!%0 "-"1"/1%+ / #%/.! #& 1!/1 /** &''%"-2# &- 1!/1 1&(".

/% #%%- /# #&*"."1%+ /-+ %*/1%+

!) 5") V/0 +"''%

5"") B*$# %/#%#!"+%#*&1#

5""") L&./1%+ .&-1/.1%+%/.!%+

5"8) V/2/"%# I-/+%7$/."%##!&1.&4"-2#(&*%4#

58) D"#1"-.1"&- +"''%%-.%

58") C&--%.1 *"-9%*/1%

58"") F/.% I+%-1"10%(%#%-1/1"&-

58""") C&4("*% 2/1!%/##%4*%

R$".#:


71/75

INSIGHT

.&-.%-1/1"&- &' 1!% *"#1%-% I' 1!% 1&(". "# "-1%%#1 /%#1"-2, 1!% *"#1%-% ./--&1 $1 %/11%-1"8%

B C&-+$."8% %-8"&-4%-1: T!% %-8"&-4%-1 4$#1 % .&-+$."8% 1& *"#1%-"-2 A (&&*0

8%-1"*/1%+ /-+ &8%.&3+%+ &&4 3"** % 1&& !&1 '& /-0 4%/-"-2'$* .&-.%-1/1"&- 1&1/9% (*/.% A 3%** 8%-1"*/1%+ & /".&-+"1"&-%+ &&4 3"** !/8% / +"%.1 %/"-2 &- 1!%*%8%* &' .&-.%-1/1"&- &' 1!% *"#1%-%, /# !% +&%# -&1 !/8% 1& #1$22*% 3"1! !%/1 /-+!$4"+"10

C N&- 8%/* .$%#: A *"#1%-% 4$#1 (/0 /11%-1"&- 1& 1!% #(%/9%# -&- 8%/* .$%# &'1&-%, "-1&-/1"&-, 2%#1$%# /-+ &+0 4&1"&-# 1& %-!/-.% 1!% 4%##/2% '&4 1!% #(%%.!#"2-/*# E''%.1"8% *"#1%-"-2 %7$"%# / ./%'$* #0-.!&-"J/1"&- &' 8%/* /-+ -&- 8%/*.$%# '& / !"2! *%8%* &' .&-.%-1/1"&-

D E*"4"-/1"&- &' D"#1/.1"&-#: D"#1/.1"&-# ./- .&4% '&4 3"1!"- 1!% *"#1%-% & '&4

3"1!&$1 D"#1/.1"&-# '&4 3"1!"- %-1/"*# 4"-+ 3/-+%"-2 3!".! "-2# $( #"4"*/ &

+"##"4"*/ %8%-1# (%8"&$#*0 %6(%"%-.%+ 0 1!% *"#1%-%, $1 %61/-%&$# 1& 1!% (%#%-1

1&(". T!%#% ./- -%2/1"8%*0 /''%.1 .&-.%-1/1"&- D"#1/.1"&-# '&4 3"1!&$1 %-1/"*#

2"8"-2 /11%-1"&- 1& '*%%1"-2 /.1"8"1"%# & -&"#% 2&"-2 &- "- 1!% %-8"&-4%-1 (&6"4/1% 1&

1!% &&4 3!%% *"#1%-"-2 "# %7$"%+ T!%#% 1&& /% /+ '& %''%.1"8% *"#1%-"-2 T!%

*"#1%-% 4$#1, 1!%%'&%, %*"4"-/1% /** '&4# &' +"#1/.1"&-# "- &+% 1& /.!"%8% %''%.1"8%

*"#1%-"-2

E O%.1"8% .&-#"+%/1"&- &' 1!% #(%%.!: E''%.1"8% *"#1%-"-2 %7$"%# /- &%.1"8%,

$-%4&1"&-/* /-+ -&-$+2%4%-1/* .&-#"+%/1"&- I' 1!% *"#1%-% +%#"%# 1& /.!"%8% / !"2!

*%8%* &' .&-.%-1/1"&-, !% 4$#1 #%1 /#"+% /** '&4# &' (%$+".%

F T!% #(%/9% -%%+# '%%+/.9: M/-0 *"#1%-%# !/+*0 %/*"J% 1!/1 / -&+, / 3"-9, / #4"*%,

/ .*/(, / '&3- '&4 1!%4 #(%/9# 8&*$4% &' 1!%" /11%-1"8% *"#1%-"-2 1& 1!% #(%/9% A#

4$.! /# 1!"# %-.&$/2%# 1!% #(%/9%, "1 /*#& +%4&-#1/1%# 1!% !"2! *%8%* &' .&-.%-1/1"&-

&' 1!% *"#1%-%

EXAMINERS COMMENT

T!"# 7$%#1"&- 1%#1# &-% &' 1!% */-2$/2% #9"**# *"#1%-"-2 A&$1 @ &' 1!% ./-+"+/1%# /11%4(1%+1!% 7$%#1"&- T!%" (%'&4/-.% 3/# (&& /# / %#$*1 &' 1!%" "-/"*"10 1& $-+%#1/-+ 1!/1 1!%"/11%-1"&- #!&$*+ % '&.$#%+ &- 1!% *"#1%-% /-+ -&1 1!% #(%/9% C/-+"+/1%# #!&$*+ %-+%/8&$ 1$+0 1!% '&$ */-2$/2% #9"**#

SOLUTION 2



72/75

INSIGHT

C&44$-"./1"&- "# 2%-%/**0 +%'"-%+ /# / (&.%## &' #!/"-2 "-'&4/1"&-, 1!&$2!1# /-+ %4&1"&-# %13%%-

/ #&$.% /-+ / +%#1"-/1"&- +%8&"+ &' $-.%1/"-1"%#

T!%% /% 13& 4/& 10(%# &' .&44$-"./1"&-: I-1%-/* /-+ %61%-/* .&44$-"./1"&-

5A) I*+, C))(:+(% T!"# 10(% &' .&44$-"./1"&- &"2"-/1%# /-+ %-+# 3"1!"- 1!% #/4%&2/-"#/1"&- T!%% "-1%-/* .&44$-"./1"&- '*&3# ./- % "+%-1"'"%+ T!%0 /% 8%1"./*,

!&"J&-1/* /-+ +"/2&-/*

5/) V%1"./* .&44$-"./1"&-: T!"# &..$# %13%%- / #$(%"& &''".% /-+ / #$&+"-/1% W!%- "1

&"2"-/1%# '&4 1!% #$(%"&, "1 "# +&3-3/+ 8%1"./* "- 1!% '&4 &' +"%.1"8%# /-+

"-#1$.1"&-# W!%- "1 &"2"-/1%# '&4 1!% #$&+"-/1%, "1 "# $(3/+ 8%1"./* "- 1!% '&4 &'

%(*"%#'%%+/.9 /-+ #$22%#1"&-# V%1"./* .&44$-"./1"&- &..$# %13%%- &''".%# /-+

#!&('*&& #1/'' &' 1!% #/4% +%(/14%-1

5) H&"J&-1/* C&44$-"./1"&-: T!"# &..$# %13%%- &''".%# &- 1!% #/4% *%8%* &' .&44/-+

/.# +%(/14%-1# &' 1!% #/4% &2/-"#/1"&-, %2 %13%%- 1!% (&+$.1"&- 4/-/2% /-+ 1!%(&.$%4%-1 4/-/2%

5.) D"/2&-/* C&44$-"./1"&-: T!"# &..$# 3!%- / 4/-/2% &' / +%(/14%-1 !/# 1& +%/*

+"%.1*0 3"1! /- &''".% &' / *&3% *%8%* &' .&44/-+ '&4 /-&1!% +%(/14%-1 T!"#

$#$/**0 &..$# "- /- &2/-"J/1"&- 3!%% 1/+% $-"&-"#4 &(%/1%#

5B) E7*+, C))(:+(% T!"# "# 1!% .&44$-"./1"&- '&4 1!% 4/-/2%4%-1 &' &-%

&2/-"J/1"&- 1& /- "-+"8"+$/* & 2&$( &' "-+"8"+$/*# &$1#"+% &' 1!% %#1/*"#!4%-1 & '&4 &-%

4/-/2%4%-1 1& /-&1!% .&4(/-0# 4/-/2%4%-1 T!"# 10(% &' .&44$-"./1"&- 2&%# '&4 /-

&2/-"J/1"&- 1& /-0 &1!% &2/-"J/1"&- #$.! /# 2&8%-4%-1, /2%-."%# &' 2&8%-4%-1 /-+ -&-2&8%-4%-1/* &2/-"#/1"&-# E61%-/* .&44$-"./1"&- "# %6%4(*"'"%+ "- *%11%#, (%#, !/-+"**#,

"**&/+#, /+8%1"#%4%-1# "- -%3#(/(%#, /+"& /-+ 1%*%8"#"&-

E61%-/* .&44$-"./1"&- #$''%# '&4 +%*/0%+ '%%+/.9 %./$#% &' 1!% +"#1/-.% %13%%- 1!%

&2/-"J/1"&-# "- .&44$-"./1"&- E61%-/* .&44$-"./1"&- /*#& ./**# '& (&(% (*/--"-2 /-+

'/$*1*%## %6%.$1"&- /# "1# 7$/*"10 3"** (&%.1 1!% "4/2% &' "1# &"2"-

EXAMINERS COMMENT

T!"# 7$%#1"&- 1%#1# ./-+"+/1%# 9-&3*%+2% &' &2/-"#/1"&-/* .&44$-"./1"&- A&$1 @ &' 1!%./-+"+/1%# /11%4(1%+ 1!% 7$%#1"&- T!% (%'&4/-.% &' 1!% ./-+"+/1%# 3!& /-#3%%+ 1!"#7$%#1"&- 3/# %*&3 /8%/2% T!"# 3/# +$% 1& 1!% ./-+"+/1%# "-/"*"10 1& "+%-1"'0 1!% +"''%%-.%#%13%%- "-1%-/* /-+ %61%-/* .&44$-"./1"&- C/-+"+/1%# #!&$*+ '/4"*"/"J% 1!%4#%*8%# 3"1!1!% .&-.%(1 1%#1%+ !%% O2/-"#/1&-/* C&44$-"./1"&-

SOLUTION



73/75


74/75

INSIGHT

!&3%8%, 1!% 4%%1"-2 !&*+# 3"1!&$1 / 7$&$4, 1!% +%."#"&-# 1/9%- 1& % "-+"-2, 3&$*+ !/8% 1& %

/1"'"%+ /1 /-&1!% 4%%1"-2 "- 3!".! / 7$&$4 "# '&4%+ E8%0 &2/-"J/1"&- #1/1%# 1!% -$4% &'

4%4%# 1!/1 #!&$*+ '&4 / 7$&$4 /1 "1# 4%%1"-2# $1 '& 4 &2/-"J/1"&-#, 1!% -$4% "# >? &' 1!%

4%4%#!"( &' 1!% 3!& /% 7$/*"'"%+ 1& /11%-+ #$.! / 4%%1"-2

5"") V&1"-2

V&1"-2 "# 1!% 4%/-# &' /"8"-2 /1 / +%."#"&- /1 / 4%%1"-2 D$"-2 8&1"-2, 4%4%# "-+"./1%

1!%" (%'%%-.% '& / (/1".$*/ .&$#% &' /.1"&- T!%% /% +"''%%-1 3/0# &' .&-+$.1"-2 8&1"-2

T!%% "# 8&".% 8&1"-2, 8&1"-2 0 #!&3 &' !/-+#, 8&1"-2 0 #%.%1 /**&1 /-+ 8&1"-2 0 +"8"#"&- &'

4%4%#!"( (!0#"./**0 W!%% 1!%% "# / 1"% "- 1!% 8&1"-2, 1!% (%#"+"-2 &''".% "# %7$"%+ 1& 2"8%

/ ./#1"-2 8&1% 0 8&1"-2 '& &-% &' 1!% &(1"&-#

5""") M"-$1%# &' 4%%1"-2

T!% 4"-$1%# &' 4%%1"-2 "# 1!% &%.1"8%, /$1!%-1". /-+ (%4/-%-1 %.&+ &' 1!% (&.%%+"-2# &' /4%%1"-2 T!% 4"-$1%# &' / 4%%1"-2 .&-1/"-# / *"#1 &' (%&(*% (%#%-1 /# 3%** /# 1!% 3!& 3%%

/#%-1 /1 1!/1 4%%1"-2 D%."#"&-# 1/9%- /1 1!% 4%%1"-2 /-+ 4/& %8%-1# 1!/1 1&&9 (*/.% /%

%.&+%+ "- 1!% &+% "- 3!".! 1!%0 ./4% $( /1 1!% 4%%1"-2 T!"# #%7$%-.% "# /*#& 1!% #%7$%-.% &'

1!% /2%-+/ &' 1!% 4%%1"-2 T!% S%.%1/0, & /-0&+0 #& /((&"-1%+ 1& /.1 '& !"4, 3"1%# 1!%

4"-$1%# &' 1!% 4%%1"-2

5"8) P&60

T!"# "# 1!% /$1!&"10 .&-'%%+ &- / (%#&- 1& /11%-+ / 4%%1"-2 &- %!/*' &' /-&1!% /-+ 8&1% "-

!"# (*/.% T!% (&60 "# /*#& %.&2-"J%+ /# '"1 1& %6%."#% /** 1!% "2!1# /-+ ("8"*%2%# &' 1!% (%#&-

!% "# %(%#%-1"-2

58) M&1"&-

T!"# "# / (&(/* ($1 %'&% / 4%%1"-2 '& .&-#"+%/1"&-, +%."#"&- /-+ /.1"&- A 4&1"&- 1& %

($1 %'&% / 4%%1"-2 4$#1 !/8% / 4&8%, "% 1!% (%#&- (&("-2 1!% 4&1"&-; /-+ / #%.&-+%, "%

1!% (%#&- 3!& #$((&1# 1!% 4&1"&- I' / 4%4% #%%# 1!% -%%+, !% 4/0 (&(% /- /4%-+4%-1

&' 1!% 4&1"&- 0 /*1%"-2 / (/1 &' "1 A 4&1"&- ($1 %'&% / 4%%1"-2 #!&$*+ % +%/1%+ /-+

+%."+%+ $(&- I- &+% 1& 1/9% / +%."#"&- &- / 4&1"&- 3!%1!% "1 3"** % /..%(1%+ & %%.1%+, "1

#!&$*+ % 8&1%+ $(&- A*#&, "- &+% 1& +%1%4"-% 1!% #1/1$# /-+ /..%(1/"*"10 &' /- /4%-+4%-1,"1 #!&$*+ %7$/**0 % 8&1%+ $(&-

EXAMINERS COMMENT

T!"# 7$%#1"&- 1%#1# ./-+"+/1%# 9-&3*%+2% &' .&-.%(1# $#%+ "- M%%1"-2# A&$1 &' 1!%./-+"+/1%# /-#3%%+ 1!"# 7$%#1"&- I- #("1% &' 1!% (&($*/"10 &' 1!"# 7$%#1"&- /4&-2 ./-+"+/1%#,&-*0 /&$1 @ &' 1!%4 #.&%+ /&8% /8%/2% 4/9 T!% ./-+"+/1%# *&3 (%'&4/-.% 3/# +$%



75/75

INSIGHT

1& 1!%" */.9 &' $-+%#1/-+"-2 &' .&-.%(1# /##&."/1%+ 3"1! 4%%1"-2# .&$(*%+ 3"1! 1!%" (&&%6(%##"&- /"*"10 C/-+"+/1%# #!&$*+ '/4"*"/"#% 1!%4#%*8%# 3"1! "##$%# "- .&44$-"./1"&- "-&2/-"#/1"&-#

Part i Insight March 2011

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Transcript of Part i Insight March 2011