The Policies and Procedures for the finance function are most likely to include;

Details of the authorisation needed for business purchases

A financial accountant is a person who

Prepares sales and profit reports for senior management

Which one of the following is the most accurate definition of efficiency?

To complete a job with minimum wasted time effort or expense

The meaning of "effective working" is as follows;

Being successful in achieving what you set out to do

A management accountant is a person who

Interprets costing data for senior management

Which of the following is the most accurate definition of solvency of a business?

Being able to pay all companies debts when they are due

studbud

Working Effectively In Finance

10 termsStudBud Administration177 plays

AAT foundation course

Flashcards10 cardsFPractice quizPHost liveL

Questions 10

Answers

1
A customer sends you a rude email with inappropriate language. How should you respond?
Ignore the email completely as the customer is so rude
Delete the email
Reply using similar language
Reply politely with apologies
2
Which one of the following would be an external stakeholder of a limited company?
The company's bank
The board of directors of the company
The employees of the business
The Finance manager
3
If a business wants to improve its working capital position it should;
Get customers to pay earlier
Pay in the bank less frequently
Pay employee's wages earlier
Pay suppliers earlier
4
The Policies and Procedures for the finance function are most likely to include;
Records of customer names and addresses
Passwords for all the computers
Details of the authorisation needed for business purchases
Details of annual appraisals of finance staff
5
Can an internal auditor be an employee of the organisation being audited?
No
Only for management inspections
Yes
6
A financial accountant is a person who
Prepares sales and profit reports for senior management
Makes sales forecasts
Sets budgets for the next financial year
Checks the accounting procedures used within the business
7
Which one of the following is the most accurate definition of efficiency?
To complete a job as cheaply as possible
To complete a job as quickly as possible
To follow Policies and Procedures to the letter
To complete a job with minimum wasted time effort or expense
8
The meaning of "effective working" is as follows;
Always complying with the requests of colleagues
Completing what you have to do as soon as possible
Creating the maximum effect in order to improve performance
Being successful in achieving what you set out to do
9
A management accountant is a person who
Prepares the Statement of Financial Position
Prepares a Profit or Loss Statement for last year
Interprets costing data for senior management
Manages the payroll function of the business
10
Which of the following is the most accurate definition of solvency of a business?
Having a lot of money in the bank
Being able to pay all companies debts when they are due
Delaying paying money into the bank as soon as it's received
Receiving all customer payments on the due date

Working Effectively In Finance Flashcards | StudBud