Question: Three of the following are outputs of a payroll system, and one is an input to the system. Which is the input?
A) Credit transfer forms
B) Time sheets
C) Payroll analysis
D) Pay slips
Also how to easily differentiate between inputs and outputs to the system, and/or I have to go through different examples of inputs and outputs to remember them.
Question: Which of the following does company law require a statement of financial position to give?
A) A true and fair view of the profit or loss of the company for the financial year.
B) An unqualified (or clean) report on the statement of affairs of the company as at the end of the financial year.
C) A true and fair view of the statement of affairs of the company as at the end of the financial year.
In the above question, It seems both option A and C seem are correct because financial statements require both income statement and balance sheet to give true and fair view.
Q1 Answer is B. All calculations and output depend on hours worked.
Q2 Cannot be A. SOFP is not the P&L
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