Page 22 - Microsoft Word - 00 CIMA F1 Prelims STUDENT 2018.docx

Chapter 1

Which of the following is the best summary of the results of this Value
for Money review?

A Economy, effectiveness and efficiency have all been achieved

B Economy and efficiency have been achieved, but not effectiveness

C Economy and effectiveness have been achieved, but not efficiency

D Only economy has been achieved

Solution

The answer is (D).

Economy – achieved since the cost of the programme was below budget.

Effectiveness – not achieved since there has been no improvement in the
level of absenteeism.

Efficiency – not achieved. Other schools manage to get better results at a
lower cost, so this programme has not been an efficient use of resources.

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