Accounts and Financial Services

Documents used in the accounts office include:

• circulation slip

• invoices

• visitors book

• job analysis

PAYE is:

• not a deduction

• a voluntary deduction

• contribution to health, social security and pensions

• tax paid to the government

_________________ is the document made out by the seller whenever the buyer has been undercharged on an invoice.

• A credit note

• a debit note

• An invoice

• A statement of account

A statement of account is a:

• list of goods sold to a customer

• summary of all transactions over a given period

• letter sent to customers who have not settled their account

• refund of an overcharge made

Which of the following is not a function of the accounts department?

• payment of wages

• checking on credit worthiness of customers

• chasing up delinquent debtors

• staff welfare

If customers receive a credit note from a supplier, this means:

• their account is no longer in credit

• they are required to make an additional payment

• they have been overcharged by the supplier

• they have been undercharged by the supplier

if John worked 40 hours and is paid at $12 per hour, what is his basic wage?

• $320

• $480

• $360

• $520

Mary's basic rate is $20 per hour. She worked 10 overtime hours and is paid at time and a half. What is her overtime pay?

• $200

• $350

• $300

• $250

John earned $750 during the week. However, he is required to pay 5% of his earnings to national insurance and $5 to union dues. What is John's net pay?

• $707.50

• $792.50

• $712.50

• $692.50

The duties of an accounts clerk include all of the following, except:

• preparing cheques

• preparing payroll

• writing up the cashbook

• answering customer queries