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Guide for Finance Officer

Quiz Finance Officer

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/ 10

Quiz

1/10
Accounting
What is the primary purpose of financial accounting?
Select the answer
1 correct answer
A.
To assist with tax preparation
B.
To provide information to internal management
C.
To prepare financial statements for external stakeholders
D.
To determine the value of inventory

Quiz

2/10
Auditing
What is the primary purpose of an audit in financial reporting?
Select the answer
1 correct answer
A.
To provide assurance on the accuracy of financial statements
B.
To prepare tax returns for the organization
C.
To evaluate employee performance
D.
To develop new financial policies

Quiz

3/10
Cost & Management Accounting
What is the primary purpose of cost accounting in a business organization?
Select the answer
1 correct answer
A.
To prepare financial statements
B.
To assess profitability and efficiency
C.
To manage cash flow
D.
To conduct market research

Quiz

4/10
Direct Taxation
What is the primary purpose of direct taxation in a financial system?
Select the answer
1 correct answer
A.
To encourage consumer spending
B.
To redistribute wealth
C.
To increase corporate profits
D.
To control inflation

Quiz

5/10
Goods & Services Tax
What is the standard rate of Goods & Services Tax (GST) applicable in most cases?
Select the answer
1 correct answer
A.
5%
B.
10%
C.
15%
D.
20%

Quiz

6/10
Laws & Compliance
What is the primary legislation that governs financial services and markets in the country?
Select the answer
1 correct answer
A.
Companies Act 2006
B.
Financial Services and Markets Act 2000
C.
Insolvency Act 1986
D.
Consumer Credit Act 1974

Quiz

7/10
Sustainable Development
Which of the following is a key principle of sustainable development in finance?
Select the answer
1 correct answer
A.
Maximizing short-term profits
B.
Focusing solely on environmental protection
C.
Balancing economic growth with social equity and environmental sustainability
D.
Avoiding any investment in renewable energy

Quiz

8/10
Accounting
Which of the following is an example of a liability?
Select the answer
1 correct answer
A.
Cash
B.
Accounts Receivable
C.
Mortgage Payable
D.
Inventory

Quiz

9/10
Auditing
Which of the following is considered a key component of internal controls in an organization?
Select the answer
1 correct answer
A.
Annual budget reviews
B.
Segregation of duties
C.
External audits
D.
Profit margin analysis

Quiz

10/10
Cost & Management Accounting
Which of the following is an example of a fixed cost?
Select the answer
1 correct answer
A.
Raw materials
B.
Sales commissions
C.
Rent for office space
D.
Utility bills
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Info quiz:

  • Quiz name:Finance Officer
  • Total number of questions:350
  • Number of questions for the test:50
  • Pass score:70%
  • Number of topics:7 Topics
Study topics:Number of questions:
  • Accounting:50 Questions
  • Auditing:50 Questions
  • Cost & Management Accounting:50 Questions
  • Direct Taxation:50 Questions
  • Goods & Services Tax:50 Questions
  • Laws & Compliance:50 Questions
  • Sustainable Development:50 Questions

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