Which of the following is NOT a concern of the expenditure cycle?

a. Only verified and high-quality suppliers are selected for purchases.

b. Payments match supplier invoice, purchase order and delivery docket.

c. Payments to suppliers are made by authorised employees

d. There are sufficient goods in the finished goods inventory to fulfil the customers order.

Within the payroll process of Hanks Ltd, which one of these combinations would be acceptable from the perspective of segregation of duties?

a. A payroll clerk is in charge of approving timesheets and reconciling payroll bank accounts.

b. A payroll clerk is in charge of processing and approving timesheets.

c. A payroll clerk is in charge of calculating total wages payable and calculating payroll liabilities.

d. A payroll clerk is in charge of approving timesheets and disbursing pay via direct debit.

AtoZRetail is a small organisation where it is not possible to completely segregate incompatible duties. Within the sales process of AtoZRetail Ltd, which one of these combinations would form the LEAST acceptable combination of duties?

a. A sales clerk is in charge of approving new cash customers and processing new sales orders.

b. A sales clerk is in charge of processing sales orders and maintaining the sales ledger.

c. A sales clerk is in charge of processing sales orders and changing unit prices within certain limits.

d. A sales clerk is in charge of processing sales orders and approving customer credit limits.

Before XBRL, external users of financial information:

a. manipulated PDF documents to obtain the information they wanted.

b. used decoding tools to obtain the information they wanted.

c. had to identify and re-input data before undertaking financial analysis.

d. all of the options are correct.

Common reports produced in the general ledger and financial reporting cycle include:

a. profitability analysis for the organisation or a division.

b. cost management analysis for decision-making.

c. analysis of profitability potential to guide future investment decisions.

d. all of the options are correct.