In the context of managing performance in not for profit organisations, which of the following definitionsis incorrect（）
A. Value for money means providing a service in a way which is economical, efficient and effective
B. Economy means doing things cheaply: not spending $2 when the same thing can be bought for $1
C. Efficiency means doing things quickly: minimising the amount of time that is spent on a givenactivity
D. Effectiveness means doing the right things: spending funds so as to achieve the organisation’sobjectives
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Which of the following types of investment carries the highest level of risk（）
A. Company bonds
B. Preference shares
C. Government bonds
D. Ordinary shares
Which of the following is a disadvantage to a company of using a factor for its accounts receivable（）
A It is easier to finance growth through sales
B Managers spend less time on slow paying accounts receivable
C Credit customers pay direct to the factor
D It is easier to pay suppliers promptly to obtain discounts
1 Which of the following is the most likely to be a symptom of overtrading（）
A Static levels of inventory turnover
B Rapid increase in profits
C Increase in the level of the current ratio
D Rapid increase in sales
Which of the following is not a financial intermediary（）
A. unit trust companies
B. investment trusts
C. venture capital organisations
D. The answers above are all wrong
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