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7
What are the three main steps in controlling payments? 
8
A series of cells arranged in columns and rows which can contain calculations, numbers or text is called 
a:
A Word 
document C Calculation 
sheet 
B Spreadsheet 
D Cell 
document 
 
 
 
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CHAPTER 8
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THE ROLE OF ACCOUNTING 
 
233 
 
1
C 
Books of prime entry. 
2
False. Cost accounting is usually done by the management accountant. 
3
A 
Internal auditors are employees of the company that they audit. 
4
B 
Economic factors do not influence the development of financial accounting. 
5
B 
Generally accepted accounting practice. 
6
Controls cover documentation and authorisation of staff changes, calculation and payment of wages and 
salaries, and authorisation of deductions. 
7
The three steps are: obtaining documentary evidence of the amount and reason for payment, obtaining 
authorisation and restricting the authority to actually make the payment to certain specified individuals. 
8
B Spreadsheet. 
 
 
Now try ... 
Attempt the questions below from the 
Practice Question Bank 
Q36 
Q37 
Q38 
Q39 
Q40 
Q41 
Q42 
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PART C: ACCOUNTING AND REPORTING SYSTEMS, CONTROLS AND COMPLIANCE 
 
234
 
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