WorksheetsMA1 Chapter 1
Total questions: 14
Worksheet time: 7mins
What is the purpose of an organisational chart?
To demonstrate the filing and coding systems used.
To demonstrate formal relationships and communication flows.
To map where each department and function is located.
To set out production schedules for a period.
Which of the following problems would be solved by the organisational chart?
Claire is unsure who she is supposed to submit her report to.
Claire is unsure how many days of leave she has left.
Claire is unsure what her company insurance policy is like.
Claire is unsure what the appropriate response to a client’s question is.
In which of the following scenarios would a centralized management approach be most feasible?
The weather conditions in the country that QQ Ltd operates vary greatly by location.
The work that is done by QQ Ltd is easy to standardize.
QQ Ltd.’s customers are very diverse with big differences in demands.
The workers required to deliver QQ Ltd.’s service to the customer is highly skilled
Which of the following represents a key characteristic of centralization?
XYZ Ltd allows its franchisees to select their own employees.
All branches of XYZ Ltd sell the same types of products.
XYZ’s branch managers have the power to purchase advertising in their surrounded area
Which of the following represents a policy?
ABC Ltd aims to achieve market share of 60% in 1 years’ time.
Before ABC Ltd can close a sale, the goods must be delivered, and a delivery note completed by the customer and returned.
ABC Ltd will offer limited credit terms to customers with good credit ratings.
ABC Ltd will organize a company trip to Paris for all staff this November
Which of the following items best presents a record of company policies to interested parties?
Accounting department
Advertising
Policy Manual
Organisational chart
Which of the following is a disadvantage of policy manuals?
Reduces the quality of employee activities.
Reduces effective communication between senior management and subordinates.
Provides guidelines for best practice and appropriate employee behaviour.
Strict interpretation reduces creativity and flexibility.
Which of the following is the correct accounting equation for the Statement of Financial Position?
Assets + Liabilities = Capital
Capital + Assets = Liabilities
Capital - Assets = Liabilities
Capital + Liabilities = Assets
Which of the following describes John as gaining an asset?
John received $200 from his mom as a gift.
John owes Matthew $72 for using his bike.
John borrowed his dad’s car to take his friends out on a road trip.
John paid Matthew back the $72 that was owed to him.
Revenue - expenses = Losses. Which of the following answers correctly result in this equation?
Revenue is less than expenses.
Revenue is more than expenses.
The result is a decrease in net assets (capital).
The result is an increase in net assets (capital).
Which of the following would be key personnel in a sales transaction?
Payroll clerk
Supplier of materials
Warehouse personnel
Purchase clerk
Which of the following is the correct description of a purchase?
There will be a loss of capital.
Goods will be received from the customer.
There will be no change in capital.
An obligation to pay will be destroyed.
Which of the following is a correct description of the control environment?
Locks, guards, fences, other physical protection.
Management attitude towards effective controls.
Good control policies and procedures.
Latest in control technology and training.
Which one of the following statements are false?
Controls are necessary because management has constraints.
Authorisation is necessary in every single operation to ensure consistency.
Controls are implemented by senior management to strategize activities.
Risk management and encryption are forms of control.
