Efficiency and regulation in the workplace – lesson 3

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Efficiency and regulation in the workplace is an important part of the work effectively in accounting and finance.

Before reading this page you should have read:

Work effectively in accounting and finance – lesson 1

The examiner will expect to know the way in which the accounting and finance function of an organisation should be run so that it operates smoothly and efficiently.

To test your understanding try the quiz below.

Efficiency and regulation in the workplace – quiz

Question 1
Achieving the correct result with the minimum of time and effort is called ____________

Question 2
The ability of an organization to pay its debts on time means that it is ____________

Question 3
The day to day funds which a business has to buy invrntory and pay it s debts is called _________ capital

Question 4
Rules and guidelines laid down by a business for the running of a specific area eg accounts are called _______ __ __________

Question 5
The working environment of an employee and employer are governed by _________ __ ____ regulations

Question 6
HMRC stands for:

Question 7
VAT stands for:

To move onto next lesson click below:

Working with numbers – lesson 4