BT11.1

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.

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

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.

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.

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.

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.

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.

What is a materials requisition form used for?

• To record sales transactions

• To order new supplies

• To obtain goods from the store

• To request payment from clients

Answer explanation

A materials requisition form is specifically used to obtain goods from the store, allowing employees to request necessary materials for their tasks. This distinguishes it from ordering supplies or recording sales.

Which of the following could indicate a flaw in financial reporting systems?

• Strong customer satisfaction

• Accurate inventory management

• Identifying discrepancies and errors

• Growing market share

Answer explanation

Identifying discrepancies and errors suggests that there are issues within the financial reporting systems, indicating potential flaws. In contrast, strong customer satisfaction, accurate inventory management, and growing market share are positive indicators.

Which of the following would be earliest in the sales cycle for a company selling goods on credit to wholesalers?

• Receipt of payment

• Dispatch of goods

• Receipt of order

• Dispatch of invoice

Answer explanation

The earliest step in the sales cycle is the 'Receipt of order', as it initiates the process of fulfilling a sale. Following this, goods are dispatched, invoices are sent, and finally, payment is received.