C4 Ha - Bsbfim501 Manage Budgets

1. A cheque book is a type of record and an employee's payslip is not.

Both statements are true

Both statements are false

The first statement is true, the second statement is false

The first statement is false, the second statement is true

2. An audit adds credibility to reports, especially when they are conducted by someone independent of the organisation.

Both statements are true

Both statements are false

The first statement is true, the second statement is false

The first statement is false, the second statement is true

3. All are examples of a contingency plan to manage records, except?

Re-create based on memory of a manager

Back up systems on computers

Off site management systems

Duplicate records

4. Accounting tasks include all of the following, except?

Keeping of records in accordance with defined rules

Reporting the financial activities of a business

Identifying and measuring information

Makes decisions on how to conduct the business

5. Assets equals liabilities plus owner's equity and profit minus revenue equals expenses.

The first statement is true and the second statement is false

The first statement is false and the second statement is true

Both statements are true

Both statements are false

6. Tick all of the current assets below (more than one permissible)

Cash

6 month bonds

Factory building

Stocks

Submit

7. Tick all of the current liabilities below (more than one permissible)

Accounts payable

Creditors

Mortgage

Bank overdrafts

Submit

8. A chart of accounts essentially allocates numbers to particular elements used within the accounting system.

True

False

9. The current Australian rate for Goods and Services Tax is _____?

.10%

10%

1.0%

1.10%

10. Tick all of the relevant legislation for operating a business (more than one permissible)

Australian Securities and Investment Commission (ASIC)

Fringe benefits tax

Income tax

Stamp duty

Bankruptcy Act

Submit

11. Informal audits are a waste of time and money for an organisation.

True

False

12. Accuracy is not just important - it is essential!

True

False

13. It is important for information to easily accessible and not to give in to the pressures from customers, employees and the owners.

Both statements are true

Both statements are false

The first statement is true, the second statement is false

The first statement is false, the second statement is true

14. Match the following acronym to the appropriate title

ABN

TFN

PAYG

GST

ASIC

GIGO

Submit

15. Tick all of the positive elements of a positive work environment (more than one permissible)

Autocratic leadership

People to take initiative and responsibility

Behaviours that demonstrate high levels of trust

Role modelling of desired behaviours

Submit

16. Match the following research methods used to gain further information

Exploratory research

Descriptive research

Causal research

Submit

17. It is important for information to easily accessible and not to give in to the pressures from customers, employees and the owners.

Both statements are true

Both statements are false

The first statement is true, the second statement is false

The first statement is false, the second statement is true

18. Tick the following preferences when presenting information (more than one permissible)

Provided information in a timely fashion

Use of graphs and illustrations

Be objective, neutral and avoid generalising

Evidence and analysis to support your findings

Keep reports to a maximum

Justify all results and recommendations

Submit

19. Match the level of management to its focus often found in large organisations

Top level

Tactical level

Frontline level

Submit

20. Only large or very large organisations have a benefit of financial records?

True

False

21. The purpose for financial records for an individual is to help control expenditure, while the purpose for financial records for an organisation is to provide information to people outside their organisation.

Both statements are true

Both statements are false

First statement is true, the second statement is false

First statement is false, the second statement is true

22. All internal financial records are conducted for the same timeframe, and for the purpose of managers.

Both statements are true

Both statements are false

First statement is true, the second statement is false

First statement is false, the second statement is true

23. Information is useful to the user only when all of the following, except?

It is written in English

It provides details for decision making

Is provided quickly in order to make these decisions

Is in a format that is understood by the user

24. The financial performance of any organisation is gauged by comparing the actual outcome of the organisation's activities against the planned outcome?

True

False

25. Tick all of the following locations where external information come from (more than one permissible)

Balance sheet

Management strategy statement

Cash flow statement

Profit and loss statement

Submit

26. All of the following are advantages of face-to-face method of communication, except?

Not always possible

Clearer meaning through body language

Feedback can be instant

Misunderstandings can be clarified immediately

27. All of the following are common accounting software programs, except?

AccountsPLUS

Zero

Quickbooks

MYOB

28. Match the technique of analysing financial information technique with its description

Variance analysis

Trend analysis

CVP analysis

Ratio analysis

Submit

29. All of the following are disadvantages of a telephone call method of communication, except?

Quick, easy

No non-verbal communication

Distractions are easy on the phone

Person may take the call when he or she is not really in a position to talk

30. ___________ are used to gauge performance of a work team or individual employees against agreed targets or goals?

Key performance indicators

Key production indicators

Critical performance indicators

Key production identifiers

31. A vital role of a manager is to hold back information to a team and limit communication.

Both statements are true

Both statements are false

First statement is false, second statement is true

First statement is true, second statement is false

32. All of the following are disadvantages of letters method of communication, except?

Can be confidential

Slow

Costly

Feedback is not instant

33. All of the following are advantages of Email method of communication, except?

Inappropriate material can be sent

Instant

Can send the same message to a number of people

Feedback can be instant

34. Select the ones you like

Option1

Option2

Option3

Option4

35. Tick the following elements to consider when evaluating your audience

Past knowledge of the subject

Level of interest

Mood of member

Location

Submit

36. A vital role of a manager is to assure relevant information reaches the appropriate people and to foster open communication.

Both statements are true

Both statements are false

First statement is false, second statement is true

First statement is true, second statement is false

37. Match the following terms with the correct definitions

Distributive bargaining

Integrative bargaining

Submit

38. Match the following terms with the correct definitions.

Assets

Liabilities

Equity

Revenue

Expense

Submit

39. Common elements of a control system include all of the following, except?

A process of comparing actual and planned performance

A process of measuring actual performance

A way of keeping the overall plan stationary

A planned level of performance

40. The skill to read and interpret financial statements is unnecessary for lower level managers and team leaders.

True

False

41. All of the following are examples of a control system, except?

Number of potential job applicants for a job

Use of passwords on a computer

Access to records

Number of keys issued

42. A budget attempts to predict what is likely to happen in the future and is independent from financial records.

The first statement is true and the second statement is false

The first statement is false and the second statement is true

Both statements are true

Both statements are false

43. Match the contingency plan to the correct sequence

Identify current or potentially unsatisfactry event

Identify reasons for unsatisfactory event

Determine appropriate corrective action using contingency plan

take corrective action

Submit

C4 Ha - Bsbfim501 Manage Budgets

1. A cheque book is a type of record and an employee's payslip is not.

2.

What first name or nickname would you like us to use?

2. An audit adds credibility to reports, especially when they are conducted by someone independent of the organisation.

3. All are examples of a contingency plan to manage records, except?

4. Accounting tasks include all of the following, except?

5. Assets equals liabilities plus owner's equity and profit minus revenue equals expenses.

6. Tick all of the current assets below (more than one permissible)

7. Tick all of the current liabilities below (more than one permissible)

8. A chart of accounts essentially allocates numbers to particular elements used within the accounting system.

9. The current Australian rate for Goods and Services Tax is _____?

10. Tick all of the relevant legislation for operating a business (more than one permissible)

11. Informal audits are a waste of time and money for an organisation.

12. Accuracy is not just important - it is essential!

13. It is important for information to easily accessible and not to give in to the pressures from customers, employees and the owners.

14. Match the following acronym to the appropriate title

15. Tick all of the positive elements of a positive work environment (more than one permissible)

16. Match the following research methods used to gain further information

17. It is important for information to easily accessible and not to give in to the pressures from customers, employees and the owners.

18. Tick the following preferences when presenting information (more than one permissible)

19. Match the level of management to its focus often found in large organisations

20. Only large or very large organisations have a benefit of financial records?

21. The purpose for financial records for an individual is to help control expenditure, while the purpose for financial records for an organisation is to provide information to people outside their organisation.

22. All internal financial records are conducted for the same timeframe, and for the purpose of managers.

23. Information is useful to the user only when all of the following, except?

24. The financial performance of any organisation is gauged by comparing the actual outcome of the organisation's activities against the planned outcome?

25. Tick all of the following locations where external information come from (more than one permissible)

26. All of the following are advantages of face-to-face method of communication, except?

27. All of the following are common accounting software programs, except?

28. Match the technique of analysing financial information technique with its description

29. All of the following are disadvantages of a telephone call method of communication, except?

30. ___________ are used to gauge performance of a work team or individual employees against agreed targets or goals?

31. A vital role of a manager is to hold back information to a team and limit communication.

32. All of the following are disadvantages of letters method of communication, except?

33. All of the following are advantages of Email method of communication, except?

34. Select the ones you like

35. Tick the following elements to consider when evaluating your audience

36. A vital role of a manager is to assure relevant information reaches the appropriate people and to foster open communication.

37. Match the following terms with the correct definitions

38. Match the following terms with the correct definitions.

39. Common elements of a control system include all of the following, except?

40. The skill to read and interpret financial statements is unnecessary for lower level managers and team leaders.

41. All of the following are examples of a control system, except?

42. A budget attempts to predict what is likely to happen in the future and is independent from financial records.

43. Match the contingency plan to the correct sequence