(b) Describe the skills that a counsellor should possess. (14 marks)
(c) Briefly describe three advantages to Bailey’s of counselling. (3 marks)
(b) Explain the meaning of the term ‘Efficient Market Hypothesis’ and discuss the implications for a company if
the stock market on which it is listed has been found to be semi-strong form. efficient. (9 marks)
(c) Discuss the difficulties that may be experienced by a small company which is seeking to obtain additional
funding to finance an expansion of business operations. (8 marks)
(b) Discuss how the operating statement you have produced can assist managers in:
(i) controlling variable costs;
(ii) controlling fixed production overhead costs. (8 marks)
(b) Calculate the value of the closing stocks of finished goods at the end of the three-month period, and the value
of cost of sales for the period. (3 marks)
