FIA ACCA

10.22 Which of the following statements, in the context of computerised accounting systems, is not true?
A
B
C
D
A database is a structured, centralised pool of data which can be accessed by a number of
applications.
A spreadsheet is particularly useful for creating financial models.
Computerised systems reduce the risk of errors in financial calculations
Information and Communication Technology (ICT) systems are more efficient than manual
systems for any task an accountant may have to perform
(2 marks)
QUESTIONS
10.23 Which function in an organisation is responsible for ensuring that only properly authorised purchases
which are necessary for the business are made?
A Goods inwards
B Finance/accounts
C Purchasing/procurement
D Production/operations (2 marks)
10.24 There is a need for co-ordinated information flow between sections and departments in accounting
management. To which of the following should the receivables ledger section give information about
overdue debts?
A Cost accounting staff
B The credit control department
C The payables ledger section (1 mark)
10.25 Which one of the following is not part of the regulatory system?
A GAAP
B International financial reporting standards
C IFAC
D The European Union (2 marks)
10.26 International Financial Reporting Standards are issued by which one of the following organisations?
A IASB
B ASB
C The European Union (1 mark)
(Total = 43 marks)
11 Control, security and audit 28 mins
11.1 Which of the following is not an aim of internal controls?
A To enable the organisation to respond appropriately to business, operational and financial risks
B To eliminate the possibility of impacts from poor judgement and human error
C To help ensure the quality of internal and external reporting
D To help ensure compliance with applicable laws and regulations (2 marks)
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