level 4 exams Internal control and accounting systems practice questions

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Try these level 4 exams Internal control and accounting systems practice questions. Practice is essential if you are to succeed at the Advanced Diploma in Accounting.

Question 1

Small limited liability companies normally have particular difficulty in implement which of the following types of internal controls?

(1) Information processing.
(2) Performance reviews.
(3) Segregation of duties.

A (1) (2) and (3)
B (1) only
C (2) only
D (3) only

Question 2

You are employed as an accounting trainee in a manufacturing company and you have been studying level 4 exams Internal control and accounting systems.

Your boss has noted an increase in total sales value but a decrease in the company’s gross profit percentage for 2015 as compared to the previous year.

Which of the following is consistent with, and adequately explains, the decrease?
(1) During 2015, a major component supplier withdrew early settlement discounts previously granted.
(2) During 2015, due to a scarcity of supply the company had to pay higher prices when purchasing components.
(3) Sales volumes have decreased as compared to 2014

A (3) only
B (1) and (2)
C (2) only
D (1) only