
CTEC: 2.3.2 Financial documents
Authored by Malcolm Ewan
Business
12th Grade

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12 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is the absolute variance calculated in a budget variance report?
By dividing the actual amount by the budgeted amount
By subtracting the budgeted amount from the actual amount
By multiplying the budgeted amount by 100
By adding the actual and budgeted amounts
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which document is essential for maintaining financial transparency in a business?
Bank Statement
Delivery Note
Goods Received Note
Receipt
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a benefit of understanding business documents?
Improved artistic skills
Better equipped to navigate the world of business
Enhanced knowledge of historical events
Improved physical fitness
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can businesses interpret a budget variance report?
By analyzing the variances and identifying the reasons behind them
By comparing the delivery note with the purchase order
By reviewing the details of their salary or wages
By reconciling the remittance advice with their accounts receivable
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of a delivery note?
To provide evidence of a transaction
To track financial activities and reconcile accounts
To ensure the customer receives the correct goods
To confirm the payment for goods or services
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of a goods received note?
To provide evidence of a transaction
To track financial activities and reconcile accounts
To ensure the customer receives the correct goods
To confirm the payment for goods or services
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How should employees interpret a payslip?
By comparing it with their own records
By inspecting the goods for damages or discrepancies
By calculating the variance in absolute and percentage terms
By reviewing the details of their salary or wages
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