1. Assume that you have recently qualified as a Chartered Accountant and joined one of the largest conglomerates of Bangladesh, as a CFO. One of your accounts managers is seeking your expert opinion in regard to the required journal entry to transfer money to the payroll account. Which one of the following contains the correct journal entry? * 1 point

a. Accounts payable Debit, Payroll imprest account Credit

b. Salary & Wages payable Debit, Payroll imprest account Credit

c. Payroll imprest account Debit, Operating account Credit

d. Payroll imprest account DebitCash & cash equivalents Credit 2. Following up an order placed by a customer through obtaining necessary approval from the credit check department, information associated with the sales is released to functional divisions, EXCEPT * 1 point

a. Warehouse personnel

b. Billing department

c. Shipping department

d. Inventory control 3. Which ONE of the following documents ensure transaction authorisations as an internal control mechanics for a batch production system? * 1 point

a. Move Tickets

b. Job Tickets.

c. Cost Sheets

d. WIP Files.

4. The process of automation in accounting functions, such as an expenditure cycle, decreases the requirement for verifications since it lowers the probability of fraudulent activities and errors. * 1 point

a. True

b. False