Acca paper F1 fia diploma in Accounting and Business Accountant in Business (AB/fab) exam kit

 (2 
marks) 
183 
Consider the following two statements: 
(1) 
When petty cash is replenished, it is usual for the amount of cash to drawn to equal 
the value of the receipts and vouchers produced since the previous replenishment. 
(2) 
It would be best practice for a company that predominantly receives cheques and 
postal orders in payment for goods dispatched to appoint a single, designated and 
trusted individual to open the mail. 
Which of these statements is/are correct? 
A (1) 
only 
B (2) 
only 
C Both 
D Neither
 (2 
marks) 
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PRA CTICE OBJE CTIVE TEST QUESTIONS : 
SECTION 1 
K APLA N PUBLISH ING 
41 
184 Reducing the incidence of fraud is primarily an issue of: 
A security 
arrangements 
B system 
procedures 
C 
recruitment procedures
D organisational 
control 
(2 marks)
185 Which of the following is an advantage of manual systems? 
A 
They have fewer errors than automated systems 
B 
They are easier to audit than automated systems 
C 
It is easier to correct errors than in automated systems 
D 
They are more secure than automated systems
 (2 
marks) 
186 
XCX is a business which lends relatively small amounts of money to a wide range of 
individuals and other businesses. Its systems are currently largely manual, but it is planning 
to purchase a new computer system that will store all client records, calculate repayments 
and identify overdue accounts.
Which of the following statements is correct regarding the comparison between XCX’s