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@tayyabom said:
don’t forget to PM me when result is announced, we’ll compare at that time also and see who got more lucky 🙂thats a deal!
@tayyabom said:
Monthly reconciliation and finance director authorizing it was a strength.Cash was sent out to bankvery day morning that was a strength
Sales were matched with receipts at the end of day, that’s strength
all receipts and sales transactions are transferred to HO and a clerk matches them that’s a strength.
Test of controls?
Cash being sent to bank (observe)
Monthly reconciliation being signed off by FD (get a copy of recon and inspect)
Daily recon performed by clerk (again get a copy and inspect)mohammed seems like we wrote exact answers to each other 🙂
@tayyabom said:
I did the same. If you passed, I pass 🙂i did D also
@kicek7 said:
I also remembered, one tricky question asking for two sentences which are INCONSISTENT with the data provided. But i totally forgot what was the answers.i remember one answer i chose for this was that sales revenue had gone up whilst costs stayed the same as 2015 – i thought this was wrong as gross profit margin had dropped
i chose d too that sales invoice should be matched with GDN and the line below that but can’t the wording – again was something to do with invoices and price list maybe?
@tayyabom said:
If you do something like this17m x 1.06 x 0.9 * 10 / 12
You’ll get the required figure 🙂
yes thats what i did – sorry! i got confused when i read some else who posted their workings
@tayyabom said:
pay rise took effect from 01-Jan.yes so the pay rise of 6% should only be calculated for the 450 employees?
just realised i got the question regarding NED’s renumeration wrong. i put down motivation and performance
damn! two marks gone
thanks Muhammad, i gave a very general answer about planning etc and incorporated information given in question
