Quiz on Information and Fintech

Only information that is required for a decision is presented. Which characteristic of useful information does this describe?

• consistent

• comparable

• relevant and reliable

• understandable

Which of the examples of fintech processes data to create information that a business can use?

• Big data

• Data analytics

• Cloud computing

• Blockchain

Out of the three listed below, state which one that you could provide the information for.

• A customer asks for the address and telephone number of another customer

• A colleague asks you for the home address of two other employees

• The company’s security guard asks for the name of the visitors expected by your department that week

Which of the following are examples of information produced by the finance function?

• sales invoices

• purchase orders

• supplier invoices

• information for suppliers and customers

Hattie works in the finance function and was asked by Lourde to provide her with a credit report regarding a new customer by Wednesday so she could decide whether to grant the new customer credit. Hattie delivered the report to Lourde on Thursday. Which characteristic of useful information does Hattie’s report lack?

• consistency

• relevance and reliability

• comparability

• timeliness

The ability of systems to perform routine activities and processing of data without the input of a human. Which of the following does this describe?

• Artificial intelligence

• Automation

• Cloud computing

• Big data

How long should accounting and banking records (including ledgers, invoices, cheques, paying-in counterfoils, bank statements and instructions to banks) be kept for?

• 3 years

• 6 years

• 10 years

• 12 years

Identify which two of the following are primary sources of information:

• A certificate of incorporation for a company

• A tutorial book about personal tax

• An Act of Parliament

A business always uses the First In First Out (FIFO) method for inventory valuation. This is an example of:

• Understandable information

• Accurate information

• Consistent information

• Timely information

It is important to check a remittance advice when it is received because:

• There might be an error with a product code quoted, resulting in the wrong goods being supplied

• The total may not agree with the total on the statement of account sent by the seller

• The wrong VAT rate may have been applied on the invoice sent