Business Structure Flashcards
1
Q
True or false, partners are required to take on an additional share of the partnership’s debts if one partner becomes insolvent
A
True
2
Q
What is the amount of share capital that must be paid up at registration?
A
£12,500
3
Q
Is an LLP a separate legal entity?
A
Yes
4
Q
What does CATIVA stand for re: information processing?
A
Completeness Accuracy Timeliness Inalterability Verifiability Assessability
5
Q
What are the qualities of a secure information system?
A
Availability Confidentiality Integrity Authenticity Non-repudiation Authorisation
6
Q
Which of completeness and accuracy do control totals address ?
A
Both
7
Q
Stewardship of the organisation’s financial resources is part of which of its finance function’s tasks?
A
Recording financial transactions
8
Q
Which finance function ensures that resources are properly controlled?
A
Financial accounting
