Protecting Assets and Resources (Grade 11 NSC Matric Accounting): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What is internal control in a business?
What is internal control in a business?
Systems & rules to safeguard assets
Which three major problems does internal control help prevent?
Which three major problems does internal control help prevent?
Fraud, errors, and theft
Why is cash considered one of the most vulnerable assets?
Why is cash considered one of the most vulnerable assets?
Easy to steal & difficult to trace
At Sandy's Hair Buzz, who should have access to the cash register?
At Sandy's Hair Buzz, who should have access to the cash register?
Only owner & one trusted employee
What does excessive fuel use by one truck at Mabuza Transport indicate?
What does excessive fuel use by one truck at Mabuza Transport indicate?
Unauthorised use or fuel theft
At Kubayi Craft, what do inconsistencies between raw materials & finished goods suggest?
At Kubayi Craft, what do inconsistencies between raw materials & finished goods suggest?
Wastage or theft is occurring
What is the purpose of checks and balances in internal control?
What is the purpose of checks and balances in internal control?
Stop one person controlling entire process
Why should a hair salon issue numbered receipts for all transactions?
Why should a hair salon issue numbered receipts for all transactions?
So total cash matches receipts issued
How often should Kubayi Craft conduct stocktakes to control inventory?
How often should Kubayi Craft conduct stocktakes to control inventory?
At least monthly
Which is better in internal control systems?
Which is better in internal control systems?
Prevention over detection