
BT11.1
Quiz
•
Financial Education
•
Professional Development
•
Medium
Timur Ananyev
Used 13+ times
FREE Resource
10 questions
Show all answers
1.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
What could "A set sequence of steps or series of acts" be referred as?
Answer explanation
The phrase "A set sequence of steps or series of acts" describes a systematic approach to tasks, which is commonly referred to as a 'Procedure'. This term encapsulates the idea of following specific steps to achieve a goal.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Samat is trying to design a system for the processing of orders from customers. Which of the following is not likely to be an objective of this system?
To ensure that orders are processed promptly
To ensure that goods are only dispatched to customers who are likely to pay
To ensure that all orders are recorded
To ensure that customers sign to accept the goods
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Consider the following system features:
(i) Low capital costs
(ii) Less potential for errors
(iii) Improved security
(iv) Transactions can easily be reviewed for logical sense
Which of these are features of an automated system?
(i) and (iv) only
(ii) and (iii) only
(i) and (iii) only
(ii) and (iv) only
Answer explanation
Automated systems typically reduce potential for errors (ii) and enhance security (iii) through consistent processes and controls. Low capital costs (i) and reviewability (iv) are not exclusive to automation.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Sara is given the following extract: ‘The clerk multiplies the hours worked by the hourly rate to determine the gross pay....’ What does this extract describe?
A system
A policy
A procedure
A guideline
Answer explanation
The extract describes a procedure, as it outlines a specific method for calculating gross pay by multiplying hours worked by the hourly rate.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key feature of automated accounting systems?
Manual data entry
Standardized accounting packages
Increased paperwork
Bespoke systems for large companies
Answer explanation
Bespoke systems for large companies are tailored to specific needs, making them a key feature of automated accounting systems. This contrasts with standardized packages, which may not meet unique requirements.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of organizational control?
To enhance financial reporting
To manage resources effectively
To improve customer satisfaction
To increase employee satisfaction
Answer explanation
The purpose of organizational control is to manage resources effectively, ensuring that an organization operates efficiently and meets its goals. This involves monitoring and adjusting processes to optimize performance.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these controls relates to the sales system?
Matching of cash payments to invoices received
Calculating overtime payments
Authorisation of requisition forms
Matching of cash received to invoices sent
Answer explanation
The correct choice, 'Matching of cash payments to invoices received', directly relates to the sales system by ensuring that payments are accurately recorded against the corresponding invoices, which is crucial for financial accuracy.
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