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(b) Explain the meaning of the term ‘Efficient Market Hypothesis’ and discuss the implications for a company ifthe stock market on which it is listed
4 (a) Explain the meaning of the term ‘working capital cycle’ for a trading company. (4 marks)
(d) Explain the term ‘environmental management accounting’ and the benefits that may accrue to organisationswhich adopt it. (4 marks)
2 (a) Explain the term ‘backflush accounting’ and the circumstances in which its use would be appropriate.(6 marks)
(c) Explain the term ‘target costing’ and how it may be applied by GWCC. Briefly discuss any potentiallimitations in its application. (8 marks)
6 (a) Explain the term ‘money laundering’. (3 marks)