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1. An auditor has been tasked to check a sample of invoices. He separates the invoices into 4 groups depending on their value as follows; Under $10, Between $11 and $50, Between $51 and $100 and Above $101. The auditor then selects 5 invoices randomly from each group. Which method of sampling is being followed here?
2. Which of the following can be considered an internal source of information for a private company?
Annual report published by the central bank
Marketing report found on a marketing agency’s website
Document from tax authorities marking changes to the country’s tax policy
Employee information as per the Human Resources Information System
3. Identify which two of the following are sources of primary data:
A. Report on governmental websites
D. Publications from Online Libraries
4. A company decides to carry out a research on what consumers think of their products. In order to do this, two employees are sent to a supermarket. These employees observe the customers at the supermarket and approach a customer whom they pick at random. This method of sampling is called
5. Which of the following best describes primary data?
Data collected first hand
Data readily available for use
Data that is not useful for any purpose
Data that has been purchased from an agency
6. Which of the following only contains the attributes of good information?
Accurate, Understandable, Complete
Accurate, Usable, Cost Beneficial
Acceptable, User Friendly, Communicable
Timely, Relevant, Communicable
7. Which of the following defines ‘Information’?
Data that has not been processed yet
Data such as numbers, facts, symbols that have been sorted into a report, in such a way it has meaning to the user
8. Which of the following can be classed as data?
Number of students in a class
Report on Cost Variance Analysis
Graph on the employees wages
Table showing the ages of students in a class
9. Which of the following would be considered internally generated information?
General Ledger for Advertising expenses
Credit Agency Report
Financial statements of a supplier
Website of Parent company
10. “Information needs to be presented at the correct time to make the best use of it.” This statement is;