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NEW QUESTION: 1
An organization's trial balance at the end of the month was out of agreement, with the debit side totaling £500 less than the credit side. A suspense account was opened for this amount.
During the next month, the following errors were discovered:
(a) The purchase returns day book had been under cast by £50
(b) Rent payable of £400 had been credited to the rent receivable account (c) A non-current asset, with a net book value of £700 had been disposed of at a loss of £80; all entries had been correctly recorded except that the sale proceeds had been omitted from the disposals account.
Following the correction of these errors, the balance on the suspense account would be.
A. Credit £130
B. Debit £270
C. Debit £30
D. Credit £230
Answer: A

NEW QUESTION: 2
Which of the following is NOT the method of Qualitative risk analysis?
A. Business process modeling (BPM) and simulation
B. Explanation:
Business process modeling (BPM) and simulation is a method of Quantitative risk analysis and not
Qualitative risk analysis.
The BPM and simulation discipline is an effective method of identifying and quantifying the
operational risk in enterprise business processes.
It improves business process efficiency and effectiveness.
C. Attribute analysis
D. Scorecards
E. Likelihood-impact matrix
Answer: A,B
Explanation:
C, and B are incorrect. These three are the methods of Qualitative risk analysis.

NEW QUESTION: 3
Which statement is true about labor?
A. A labor inventory location maintains a balance of inventory items that were issued from a storeroom.
B. A labor ID can be deleted if listed on a work plan or an assignment as long as the work order(s) have a status of waiting for approval, closed, or canceled.
C. A labor record belongs to one craft/skill combination that defines the labor rate that is charged to work orders.
D. There is an optional relationship between person records and labor records that enables tracking a labor record's personal information.
Answer: A