Essential Book Keeping - Qp11
10 Questions
| Total Attempts: 31
Questions and Answers
- 1.Writing cheques and recording information on the counterfoil is historically referred to as nominal items.
- A.
True
- B.
False
- 2.When companies deal with each other on a credit basis there is no need to issue a receipt, as a range of other documents are used to detail movements of goods and funds between the two trading companies.
- A.
True
- B.
False
- 3.Every individual is entitled to earn an amount of money before paying any tax. This is known as your personal allowance.
- A.
True
- B.
False
- 4.If an individual has an Annual salary of £26,000 Tax rate is 25% Tax Allowance is £8,000 the net pay is ______
- A.
1591.67
- B.
1691.67
- C.
1791.67
- D.
1891.67
- 5.In the case of a salaried individual, no calculations need to be carried out to determine pay as the amount paid is the same each month.
- A.
True
- B.
False
- 6.Any individual who earns under the basic minimum level for national insurance in a week, has to pay a national insurance contribution.
- A.
True
- B.
False
- 7.Overtime is payment for working extra hours over and above the normal level.
- A.
True
- B.
False
- 8.The Data Protection Act details some key principals that should help in formulating that policy which includes: (Select four)
- A.
All information held must be obtained and processed lawfully and fairly.
- B.
Personal data can be held only for lawful purposes that have been specified.
- C.
Data held for a purpose can only be used or disclosed for that purpose.
- D.
Data must be excessive or irrelevant for the purpose for which it is held.
- E.
Data must be accurate and up to date.
- F.
Data should be kept longer than is necessary.
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