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Learning Quiz
FNS40611 Certificate IV in Accounting
This learning quiz covers all the units of competency which comprise this qualification. Please conduct your own research on the assessment tasks and provide your responses. By
submitting your responses, you will have commenced participating in the study of all the units of competency.
This Assessment Workbook contains the following worksheets:
1. Instructions worksheet named Instructions (i.e. this worksheet)
2. Student Declaration worksheet named Declaration
3. Assessments Submission worksheet named Assessments Submission
4. Additional sheets containing templates, forms, etc. if required to be used in any particular Assessment Tasks.
1) Please complete the Student Declaration in the Declaration worksheet.
2) Assessment Tasks are given in the Assessments Submission worksheet. Please select the best answer and enter your answer in the space provided.
3) Please submit the completed assessment workbook by email to accounting@ibi.edu.au
4) Some assessment tasks require you to provide downloads of documents, electronic printouts, reports, etc. Please submit them as attachments to your email submission.
5) Please state your Student ID in the subject line of your email.
6) Please give a clear file name to each document that you submit, in the format: Learning Quiz–Course Code/Name-YourName-YourStudentID-SubmissionDate (ddmmmyyyy).
For an Assessment Workbook: E.g. Learning Quiz-FNS40611-Tom Burton-0425BUR-16June2012
For an attached document: E.g. Assessment Task 7-FNS40611-Tom Burton-0425BUR-16June2012
Student Declaration
FNS40611 Certificate IV in Accounting
Student Name Please type your full name in CAPITAL letters
Student ID Please type your Student ID
Email Please type your preferred contact Email address
Contact Phone Number (incl Area Code) Please type your preferred contact phone number
“I affirm that all work submitted within this Assessment workbook is my true and original work unless
otherwise credited.”
“I also affirm that any documents submitted as electronic files or attachments to my assessment submissions
are also a result of my true and original work unless otherwise credited.”
“I also declare that by inserting my name and date at the top of each page of this Assessment Workbook I
am affirming that all assessment submissions to the Investment Banking Institute are a result of my own
work”.
Student Signature Please type your full name in CAPITAL letters
Date
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FNS40611 Certificate IV in Accounting
Student Name Please complete the 'Declaration' sheet first
Student ID Please complete the 'Declaration' sheet first
Date Please complete the 'Declaration' sheet first
Assessment Version 01-October-2012
ASSESSMENT
UNIT OF COMPETENCY ASSESSMENT TASK A B C D E ANSWER COMMENTS (if any)
TASK NO
FNSINC401A Apply principles Assessment Task 1 What is the Business Victoria Administration Tribunal Provides overviews of the Provides information on Administers a range of All of the above
of professional practice to Department of Innovation, Industry main industry sectors in legislations, which regulate taxes
work in the financial services and Regional Development’s function? Victoria, as well as links to individuals and
industry industry sector reports corporations who engage
dealing with those in finance broking in
industries. Victoria.
BSBITU306A Design and Assessment Task 2 Which of the following statements is Always use the subject line, You should use a software Do spend roughly the It is important to re-read None of the Above
produce business documents NOT true when communicating via which helps to ensure that version which is same amount of time in your email message before
email? your email messages carry compatible with the the writing and editing an you send it. You be
the impact to get the recipient's operating email correspondence as perceived as sloppy when
recipient's attention. system. you would with a letter. there are spelling,
grammatical and
formatting errors.
BSBOHS201A-Participate in Assessment Task 3 What is Safe Work Australia? An independent statutory An independent workers’ A not-for-profit aid agency A training institute for None of the above
OHS processes agency responsible to union for injured workers OHS issues
improve occupational
health and safety and
workers' compensation
arrangements across
Australia
FNSACC406A-Set up and Assessment Task 4 What role does double entry It is a legal requirement. Each transaction is Transactions accidentally It works only off original All of the above.
operate a computerised accounting have in checking internal recorded in atleast two deleted can be recovered. source documents thus
accounting system and external financial data for accounts thus ensuring ensuring accuracy.
consistency and accuracy? mathematical accuracy.
FNSACC301A-Process Assessment Task 5 Why must you provide evidence that a It is an audit requirement. To ensure that the It is a legal requirement. All of the above. None of the above.
financial transactions and request for payment is correct when payment is genuine and
extract interim reports seeking authorisation? correct.
FNSACC302A-Administer Assessment Task 6 Which of the following are legislation Australian Consumer Electronic Funds Transfer Stamp duty laws Taxation assessment laws All of the above.
subsidiary accounts and or compliance requirements that can Credit Code Code of Conduct
ledgers affect transaction recording?
FNSBKG404A Business & Assessment Task 7 What is a BAS service? Ascertaining liabilities, Advising an entity about Representing an entity in All of the above None of the Above
Instalment Activity Statements obligations or entitlements liabilities, obligations or their dealings with the
of an entity that arise, or entitlements of the entity Commissioner of Taxation
could arise, under a ‘BAS’ or another entity that arise, in relation to a BAS
provision. or could arise, under a provision.
‘BAS’ provision.
FNSACC401A-Process Assessment Task 8 Why is it necessary to maintain To serve as evidence for a To properly administer To ascertain details of past All of the above. None of the above.
business tax requirements adequate records to support the transaction having and ensure compliance. transaction if required.
taxation accounting system? occurred and hence claim a
tax-deduction.
BSBFIA401A-Prepare financial Assessment Task 9 Which of the following is part of the Recording Classifying Interpreting Reporting All of the above
reports Accounting process?
FNSACC404A Prepare Assessment Task 10 Who of the following read financial Suppliers Customers Government regulators Employees All of the above
financial statements for non- Statements?
reporting entities
FNSACC402A-Prepare Assessment Task 11 Why is it necessary to determine and They might offer It encourages them to take It may lead to increased They have best access to All of the above.
operational budgets confirm scope and nature of budgetary suggestions and ideas. ownership of their own discretionary effort and immediate and accurate
planning activity with relevant performance. productivity. information which can be
colleagues? utilised.
FNSACC407A-Produce job Assessment Task 12 What types of data do organisations Inventory, materials and Consumables records Records of purchases and Payroll records All of the above
costing information need to collect and to manage? finished product records associated costs
FNSACC503A-Manage Assessment Task 13 What are the major objectives of a To indicate its area of To lay down overall plans To describe clearly what To foster the planning of None of the above
budgets and forecasts budget system? operation, specify its which underlie and govern the business aims to operations, provide a
expected size and scope, the whole structure and achieve from using its framework for
and define its economic operation of the company. budgets. performance evaluation,
functions. and promote
communication and
coordination among
organisation segments.
FNSACC504A-Prepare Assessment Task 14 What do information systems capture Information systems Information systems Information systems Information systems None of the above.
financial reports for corporate and why are they important? capture the organisation's capture direct information capture the organisation's capture raw data.
entities wealth—its intellectual from internal reports, intellectual capital and can
capital—the intangible invoices, receipts. be used to share it within
asset that consists of the the organisation in order
personal skills, expertise, to create competitive
experience and advantage.
understandings of an
organisation's personnel.
FNSACC507A-Provide Assessment Task 15 What kind of problem might arise Data can get corrupted if The correct classification A Chart of Accounts can It can lead to insolvency of None of the above
management accounting from a failure to maintain and update the Chart of Accounts is of transactions can get only be created once. It the business.
information an existing Chart of Accounts. not maintained. affected if the Chart of cannot be amended
Accounts is not thereafter.
maintained and updated.
FNSACC403B-Make decisions Assessment Task 16 Which of the following is a principal Administrative Appeals Federal Magistrates Court Vic Magistrates Court Coroner's Court All of the above.
in a legal context federal court and what is its function? Tribunal
BSBITU402A Develop and use Assessment Task 11 Where can we find Excel Help? Official webpage of From within the Excel From Other website All of the above None of the Above
Complex Spreadsheets Microsoft software itself source
