NEW
Font size
WorksheetsFormative : Chapter 2 - Financial Information Process
Total questions: 9
Worksheet time: 45mins
The check/cheque may be marked FOR DEPOSIT ONLY is the example of ____________ endorsement.
Blank
Restrictive
Local
Special
_____________ are created to help ensure that the company is moving in the direction outlined in the company’s strategic plan.
Budget
Balance sheet
Payroll
Financial report
In order to stop payment on a cheque, the bank will need the following information EXCEPT:
The amount of the cheque
the cheque number
the status of the payee
the date of the cheque
An instruction to a bank to pay a fixed amount to a named individual at a fixed time each month until further notice is called a/an:
Overdraft
Bank Giro
Periodical payment
Standing order/instruction
A business must make payments on time and late payments may result _________.
no additional charges apply
get discounts
a poor credit rating
no charge paid
The overall method a business uses to safeguard assets is known as internal control. Internal control methods fall into three categories which are:
Check, debit card, forge
Audit, bonding, credit
Preventive, detective, corrective
Sales invoice, statement of account, balance sheet
Endorsement is a ____________ on the back of a check authorizing a bank to cash or deposit the check.
Signature
Payee
Deposit
Petty Cashier
Who will decide how much money will be kept in the petty cash fund?
Officer
Petty Cashier
Company Manager
Accountant
When workers paid on an hourly basis work more hours than those set as their standard workweek, they generally earn a higher rate for the __________ hours.
Overtime
Gross Salary
Commission
Deduction
