Accuracy of financial documents

Question 1

All documents must be completed …

Answer 1

All documents must be completed accurately

Question 2

What is the purpose of financial records?
1) To calculate …

Answer 2

The purpose of financial records are to:
1) To calculate costs, revenues, profit or loss

Question 3

The purpose of financial records are to:
1) To calculate costs, revenues, profit or loss
2) To track whether …

Answer 3

The purpose of financial records are to:
1) To calculate costs, revenues, profit or loss
2) To track whether goods have been delivered

Question 4

The purpose of financial records are to:
1) To calculate costs, revenues, profit or loss
2) To track whether goods have been delivered
3) To track …

Answer 4

The purpose of financial records are to:
1) To calculate costs, revenues, profit or loss
2) To track whether goods have been delivered
3) To track goods that have been returned as damaged or faulty, replaced or a refund given

Question 5

The purpose of financial records are to:
1) To calculate costs, revenues, profit or loss
2) To track whether goods have been delivered
3) To track goods that have been returned as damaged or faulty, replaced or a refund given
4) To check …

Answer 5

The purpose of financial records are to:
1) To calculate costs, revenues, profit or loss
2) To track whether goods have been delivered
3) To track goods that have been returned as damaged or faulty, replaced or a refund given
4) To check that invoices have been paid and to chase any that are outstanding

Question 6

The purpose of financial records are to:
1) To calculate costs, revenues, profit or loss
2) To track whether goods have been delivered
3) To track goods that have been returned as damaged or faulty, replaced or a refund given
4) To check that invoices have been paid and to chase any that are outstanding
5) To provide …

Answer 6

The purpose of financial records are to:
1) To calculate costs, revenues, profit or loss
2) To track whether goods have been delivered
3) To track goods that have been returned as damaged or faulty, replaced or a refund given
4) To check that invoices have been paid and to chase any that are outstanding
5) To provide information for financial statements

Question 7

The purpose of financial records are to:
1) To calculate costs, revenues, profit or loss
2) To track whether goods have been delivered
3) To track goods that have been returned as damaged or faulty, replaced or a refund given
4) To check that invoices have been paid and to chase any that are outstanding
5) To provide information for financial statements
6) To determine …

Answer 7

The purpose of financial records are to:
1) To calculate costs, revenues, profit or loss
2) To track whether goods have been delivered
3) To track goods that have been returned as damaged or faulty, replaced or a refund given
4) To check that invoices have been paid and to chase any that are outstanding
5) To provide information for financial statements
6) To determine how much tax is owed by the enterprise

Question 8

The purpose of financial records are to:
1) To calculate costs, revenues, profit or loss
2) To track whether goods have been delivered
3) To track goods that have been returned as damaged or faulty, replaced or a refund given
4) To check that invoices have been paid and to chase any that are outstanding
5) To provide information for financial statements
6) To determine how much tax is owed by the enterprise
7) To aid …

Answer 8

The purpose of financial records are to:
1) To calculate costs, revenues, profit or loss
2) To track whether goods have been delivered
3) To track goods that have been returned as damaged or faulty, replaced or a refund given
4) To check that invoices have been paid and to chase any that are outstanding
5) To provide information for financial statements
6) To determine how much tax is owed by the enterprise
7) To aid management decisions

Question 9

The purpose of financial records are to:
1) To calculate costs, revenues, profit or loss
2) To track whether goods have been delivered
3) To track goods that have been returned as damaged or faulty, replaced or a refund given
4) To check that invoices have been paid and to chase any that are outstanding
5) To provide information for financial statements
6) To determine how much tax is owed by the enterprise
7) To aid management decisions
8) To maintain …

Answer 9

The purpose of financial records are to:
1) To calculate costs, revenues, profit or loss
2) To track whether goods have been delivered
3) To track goods that have been returned as damaged or faulty, replaced or a refund given
4) To check that invoices have been paid and to chase any that are outstanding
5) To provide information for financial statements
6) To determine how much tax is owed by the enterprise
7) To aid management decisions
8) To maintain an accurate record of customers and suppliers for future business and marketing

Question 10

The importance of accuracy:
1) To ensure the correct goods …

Answer 10

The importance of accuracy:
1) To ensure the correct goods are delivered in the correct quantities to the right customer

Question 11

The importance of accuracy:
1) To ensure the correct goods are delivered in the correct quantities to the right customer
2) To ensure the enterprise …

Answer 11

The importance of accuracy:
1) To ensure the correct goods are delivered in the correct quantities to the right customer
2) To ensure the enterprise has sufficient inventory (stock) to meet customer demand

Question 12

The importance of accuracy:
1) To ensure the correct goods are delivered in the correct quantities to the right customer
2) To ensure the enterprise has sufficient inventory (stock) to meet customer demand
3) To check that …

Answer 12

The importance of accuracy:
1) To ensure the correct goods are delivered in the correct quantities to the right customer
2) To ensure the enterprise has sufficient inventory (stock) to meet customer demand
3) To check that customers are not being overcharged or undercharged for goods

Question 13

The importance of accuracy:
1) To ensure the correct goods are delivered in the correct quantities to the right customer
2) To ensure the enterprise has sufficient inventory (stock) to meet customer demand
3) To check that customers are not being overcharged or undercharged for goods
4) To ensure calculations of …

Answer 13

The importance of accuracy:
1) To ensure the correct goods are delivered in the correct quantities to the right customer
2) To ensure the enterprise has sufficient inventory (stock) to meet customer demand
3) To check that customers are not being overcharged or undercharged for goods
4) To ensure calculations of costs and revenues are accurate

Question 14

The importance of accuracy:
1) To ensure the correct goods are delivered in the correct quantities to the right customer
2) To ensure the enterprise has sufficient inventory (stock) to meet customer demand
3) To check that customers are not being overcharged or undercharged for goods
4) To ensure calculations of costs and revenues are accurate
5) To allow …

Answer 14

The importance of accuracy:
1) To ensure the correct goods are delivered in the correct quantities to the right customer
2) To ensure the enterprise has sufficient inventory (stock) to meet customer demand
3) To check that customers are not being overcharged or undercharged for goods
4) To ensure calculations of costs and revenues are accurate
5) To allow managers to make strategic decisions

Question 15

The importance of accuracy:
1) To ensure the correct goods are delivered in the correct quantities to the right customer
2) To ensure the enterprise has sufficient inventory (stock) to meet customer demand
3) To check that customers are not being overcharged or undercharged for goods
4) To ensure calculations of costs and revenues are accurate
5) To allow managers to make strategic decisions
6) To enable the enterprise to …

Answer 15

The importance of accuracy:
1) To ensure the correct goods are delivered in the correct quantities to the right customer
2) To ensure the enterprise has sufficient inventory (stock) to meet customer demand
3) To check that customers are not being overcharged or undercharged for goods
4) To ensure calculations of costs and revenues are accurate
5) To allow managers to make strategic decisions
6) To enable the enterprise to accurately calculate the taxes it owes to the government

Question 16

The importance of accuracy:
1) To ensure the correct goods are delivered in the correct quantities to the right customer
2) To ensure the enterprise has sufficient inventory (stock) to meet customer demand
3) To check that customers are not being overcharged or undercharged for goods
4) To ensure calculations of costs and revenues are accurate
5) To allow managers to make strategic decisions
6) To enable the enterprise to accurately calculate the taxes it owes to the government
7) To ensure both …

Answer 16

The importance of accuracy:
1) To ensure the correct goods are delivered in the correct quantities to the right customer
2) To ensure the enterprise has sufficient inventory (stock) to meet customer demand
3) To check that customers are not being overcharged or undercharged for goods
4) To ensure calculations of costs and revenues are accurate
5) To allow managers to make strategic decisions
6) To enable the enterprise to accurately calculate the taxes it owes to the government
7) To ensure both the enterprise and customer have a clear understanding of the terms of sale, including prices and delivery schedules

Question 17

Some of the problems with inaccurate financial records:
1) Profits may be …

Answer 17

Some of the problems with inaccurate financial records:
1) Profits may be over or understated

Question 18

Some of the problems with inaccurate financial records:
1) Profits may be over or understated
2) Not all …

Answer 18

Some of the problems with inaccurate financial records:
1) Profits may be over or understated
2) Not all costs are accounted for

Question 19

Some of the problems with inaccurate financial records:
1) Profits may be over or understated
2) Not all costs are accounted for
3) Investors …

Answer 19

Some of the problems with inaccurate financial records:
1) Profits may be over or understated
2) Not all costs are accounted for
3) Investors may lose confidence in the business

Question 20

Some of the problems with inaccurate financial records:
1) Profits may be over or understated
2) Not all costs are accounted for
3) Investors may lose confidence in the business
4) The reputation …

Answer 20

Some of the problems with inaccurate financial records:
1) Profits may be over or understated
2) Not all costs are accounted for
3) Investors may lose confidence in the business
4) The reputation of the business could be damaged

Question 21

Some of the problems with inaccurate financial records:
1) Profits may be over or understated
2) Not all costs are accounted for
3) Investors may lose confidence in the business
4) The reputation of the business could be damaged
5) It can lead to …

Answer 21

Some of the problems with inaccurate financial records:
1) Profits may be over or understated
2) Not all costs are accounted for
3) Investors may lose confidence in the business
4) The reputation of the business could be damaged
5) It can lead to cash-flow problems

Question 22

Some of the problems with inaccurate financial records:
1) Profits may be over or understated
2) Not all costs are accounted for
3) Investors may lose confidence in the business
4) The reputation of the business could be damaged
5) It can lead to cash-flow problems
6) Bad …

Answer 22

Some of the problems with inaccurate financial records:
1) Profits may be over or understated
2) Not all costs are accounted for
3) Investors may lose confidence in the business
4) The reputation of the business could be damaged
5) It can lead to cash-flow problems
6) Bad debts can increase