technology

Question 1

spreadsheets

Answer 1

Used to prepare financial statements, this allows:

-the formula to be replicated which saves time
-greater accuracy which reduces the margin for error
-charts and graphs can be made easily, allowing the information to be analysed and presented
-‘What if?’ statements can be used to forecast the outcome of different scenarios, which can help the business plan ahead

Question 2

presentation software

Answer 2

Used to engage audiences when presenting information through the use of animations and colour

Question 3

E-mail

Answer 3

used to circulate financial information quickly

Question 4

Local Area Network

Answer 4

used to share documents so that different employees can assess and share information

Question 5

Internet Banking

Answer 5

Used to make payments or check balances quickly

Question 6

Accounting software such as SAGE

Answer 6

Used to keep track of payments and income and to send invoices to customers

Question 7

EFTPOS

Answer 7

Used to receive money from customers instantly (eg. through contactless payment or Apple pay. This reduces the need for handling cash)