FIA ACCA

92
FAB/F1 ACCOUNTANT IN BUSINESS
28.15 Which of the following are examples of weak financial control procedures?
A Suppliers not being paid on time
B Debtors not paying within credit limits
C Excessive bad or doubtful debts
D All of the above (2 marks)
28.16 In a typical finance function, budgets and budgetary control would usually be the responsibility of which
of the following roles?
A The Financial Controller
B The Management Accountant
C The Chief Executive (1 mark)
28.17 Which function in an organisation is responsible for ensuring that only properly authorised purchases
which are necessary for the business are made?
A Dispatch
B Internal audit
C Purchasing/procurement (1 mark)
28.18 What is the term given to a method of fraud in the accounts receivable area, by which cash or cheque
receipts are stolen, and the theft concealed by setting subsequent receipts against the outstanding debt?
A Collaboration
B Topping and tailing
C Teeming and lading
D Understating sales (2 marks)
28.19 Which of the following are purposes of a receivables control account?
(i)
(ii)
(iii)
(iv)
A sales ledger control account provides a check on the arithmetical accuracy of the personal
ledger
A sales ledger control account helps to improve separation of duties
A sales ledger control account ensures that there are no errors in the personal ledger
Control accounts deter fraud
A (i), (ii) and (iii)
B (ii), (iii) and (iv)
C (i), (ii) and (iv)
D (i), (iii) and (iv) (2 marks)
28.20 A ........................................ is a program which deals with one particular part of a computerised
business accounting system.
Which of the following terms correctly completes this definition?
A Suite
B Module
C Spreadsheet (1 marks)
28.21 Power arising from an individual's formal position in the organisation is called:
A Coercive power
B Legitimate power
C Expert power
D Negative power (2 marks)
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