1) The implementation of an "ideally standards" costing system to a manufacturing organisation is likely to: a

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1) The implementation of an "ideally standards" costing system to a manufacturing organisation is likely to:

a. produce favourable materials usage variances

b.     increase product sales

c.      be a de-motivating factor for direct Labour employees

d.     reduce fixed production overheads

2.      Which ONE of the following transactions will NOT impact on the working capital position of a business?

a.     Wages paid by bank

b.     the depreciation of fixed assets

c.      the purchase of goods for resale (inventory) on credit terms

d.     a credit customer receipt deposited into the business bank account

3.      In order to effectively analyse a business sub-system, the internal auditor will require:

a.     A detailed understanding of the system inputs, processes and outputs, and knowledge of the expected output information and quality criteria

b.     experience of working to tight deadlines and the clear understanding of the limitations and constraints implicit in systems design development

c.      a clearly defined (documented and communicated) objective with a detailed examination, evaluation and assessment before the commencement of system operations

d.     the successful completion offer three year academic degree in a financial subject and, in addition, a minimum of two years practical (supervised) experience  

 

4.      Finish the statement:

"The data element of a business financial information system is ................ asset."

a.     An easily replaceable an unimportant

b.     Expensive and unimportant

c.      Fragile and unimportant

d.     Fragile and expensive

5.      An operational feasibility examination is:

a.     the feasibility of the project

b.     the inspection of the project technology ensuring it is acceptable to the business employees

c.      an inspection into the benefits and drawbacks of a system design to the current and future operations of the business

d.     (b) and (c)