
MA1 - Chapter 1
Authored by Gary Galiyang
Business
University
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20 questions
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1.
MATCH QUESTION
30 sec • 2 pts
Match the following:
…paying suppliers' invoices
One of the key responsibilities of the purchasing department is…
…finding new customers
The finance function is responsible for…
…making sure that only the required good
One of the main responsibilities of the sales function is…
…hiring new staff
Human resources is responsible for…
2.
MULTIPLE CHOICE QUESTION
45 sec • 2 pts
Which one of the following is the correct sequential flow of documents to complete the purchase of goods on credit?
Goods received note, purchase order, cheque requisition, invoice, delivery note
Purchase order, delivery note, goods received note, invoice, cheque requisition
Purchase order, goods received note, delivery note, cheque requisition, invoice
Purchase order, invoice, goods received note, cheque requisition, delivery note
3.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
Which member of staff is most likely to raise a goods received note?
Delivery driver
Finance director
Sales ledger clerk
Store clerk
4.
MULTIPLE CHOICE QUESTION
1 min • 2 pts
Which of the following definitions best describes ‘information’?
Data that consists of facts and statistics before they have been processed.
Data that consists of numbers, letters, symbols, events and transactions which have been recorded but not yet processed into a form that is suitable for making decisions.
Facts that have been summarised but not yet processed into a form that is suitable for making decisions.
Data that has been processed in such a way that it has a meaning to the person who receives it, who may then use it to improve the quality of decision making.
5.
MULTIPLE CHOICE QUESTION
1 min • 2 pts
Which one of the following statements BEST describes why a business organisation must maintain effective control over transactions?
To ensure that the policy and procedures manual is being followed
To ensure that formal communication flows are adhered to
To prevent overpayment to employees
To maintain control over income and expenditure
Answer explanation
Following the policy and procedures manual and ensuring that formal lines of communication are adhered to may help maintain control over transactions, but the main reason why a business organisation must maintain effective control over transactions is to control income and expenditure.
Overpayment to employees may be a consequence of inadequate control, but this is a very narrow reason that does not BEST describe why control over transactions is required.
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following definitions best describes ‘information’?
Data that consists of facts and statistics before they have been processed.
Data that consists of numbers, letters, symbols, events and transactions which have been recorded but not yet processed into a form that is suitable for making decisions.
Facts that have been summarised but not yet processed into a form that is suitable
for making decisions.
Data that has been processed in such a way that it has a meaning to the person who receives it, who may then use it to improve the quality of decision making.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is not a purpose of management information in a company?
To provide records of current and actual performance
To compare actual performance with planned performance
To help management with decision making
To inform customers about the company’s products
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