Human Resource Management and Practices Assessment 1

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Summative Activity 1: Knowledge Questionnaire

 

QUESTION 1

Indicate whether the following statements are true or false.

1.   Key budget indicators are very important in budget control.
2.   Equipment selling and transfer is the same activity.
3.   An adverse variance would be when the costs are lower than expected.
4.   The master budget is the most important budget.
5.   A budget report is only about variances.
6.   Budget variance analyses also considers “causes”.
7.   With a Zero budget you actually “start with zero funds”.
8.   Stock levels can give an indication when to order.
9.   Stock taking is a method of stock control.
10. The safest way to prepare a budget is by using a computer.
11. The budgeting process starts with the Sales Budget.
12. The Overhead Budgets considers items such as material and labour.
13. A good budget will have no variances.
14. It is a good practice to always have maximum stock available.
15. Always change the inventory list with equipment transfer.
16. Budget control is a summary of the end budget result.
17. An office budget should also “consider” Water & Lights.
18. An adverse budget variance is “always bad”.
19. SARS requires regular budget reports.
20. It is the cause and significance of a budget variance that matters.
21. The EMP201 must be submitted on the request of SARS.
22. Don’t share the contents of your pay slip with co-workers.
23. Good record keeping can save time.
24. Always follow up variances on a payroll.
25. Only the Tax Act is applicable to payrolls.
26. R21 per hour is a salary rate.
27. You can claim UIF when you resign.
28. An attendance register is a source document for payrolls.
29. “Cost to company” exclude bonuses.
30. Gross income is the money that I can take home.
31. A statutory deduction refers to a deduction described by an Act.
32. A payroll system can make deductions automatically.
33. The Cost-to-Company includes travel allowances.
34. You have to know the tax category to compile a personal salary.
35. A company must provide an official pay slip to employees.
36. Employee records only refers to salary matters.
37. A staff budget period is always over one year.
38. Staff appraisal is usually done annually.
39. For salary workers, “days of” can be used for overtime.
40. Performance bonus and a 13th cheque is the same.

 

QUESTION 2

Read the following statements and match the statement in Column A with the Statement in Column C and provide your answer in Column B

ABC
1.   Defend the expenditure in a             

based budget.

1.   Adverse
2.   Could help with the control of the office

supplies.

2.   Selling
3.   Not a good budget variable.3.   Zero
4.   The office budget is usually included in

the       budget.

4.   Sales
5.   Usually the initial (first) budget.5.   Inventory list
6.           usage will determine the order

level.

6.   SLB
7.   Determine the level of budget funding.7.   Revise
8.   A type of budgeting approach.8.   Key indicators
9.   Always       a budget when variances

occur.

9.   Zero budget
10. Can be used in budget control.10. Maximum
11. A possible reason for inaccurate data.11. Confidentiality
12. Very important in handling personal

records.

12. Disposition
13. Ensuring that data is “clean”.13. Geographical
14. Assess retention value.14. Validation
15. A data classification method.15. Decay
16. Assemble data in a standard order.16. Retrieval
17. A basic principle requesting information.17. Accuracy
18. Searching for documents or data.18. Explicit
19. Very important in collating data.19. Timely
20. Assessed feedback is          feedback.20. Collation
21. Disposal of records could mean        .21. Dates
22. Could be an automatic identification and data capture.22. Classification
23. Chronological ordering considers this.23. Relevant
24. Feedback should be                 to the request.24. Retrieval
25. Searching for documents and/or

information.

25. Payrolls
26. Arranging information in a logical order.26. Archiving
27. Salary after deductions.27. Accuracy
28. It is in the BCE Act.28. Bonus
29. Very important for payrolls.29. Non conformance
30. Can result in tax penalties.30. Work hours
31. A gratitude for excellent work.31. Variance
32. A statutory deduction.32. CTC
33. Compulsory for tax purposes.33. EFT
34. The EE Act eliminate           practices.34. Nett
35. Difference between budgeted and actual.35. Unfair
36. The method mostly used to pay

employees.

36. Pass words
37. Total staff cost for a business.37. Registration
38. Payroll security can be enhanced by                .38. Outputs
39. Production bonus considers            .39. Subsistence
40. A possible allowance on a payroll.40. UIF

 

QUESTION 3

State and explain two reasons why a business should have a financial plan.

QUESTION 4

Name three advantages of budgeting.

QUESTION 5

Define Zero-Based Budgeting.

QUESTION 6

Explain what is meant by “Budget Security”.

QUESTION 7

Name and explain the two most important factors that would assist you in the ordering of office supplies – the amount.

QUESTION 8

Explain what “Transfer of Office Equipment” is and also explain the importance to monitor the transfer of equipment.

QUESTION 9

Name the basic steps in office budget control.

QUESTION 10

Explain the term Budget Variance.

QUESTION 11

Explain the effect of an Adverse Variance on

  • Costs
  • Profit

QUESTION 12

Practical budget situation. You are an Office Administrator responsible for the budgeting process in a large office. Develop a comprehensive Standard Working Procedure (SWP) to control the budget – budget expenses throughout the year.

QUESTION 13

Explain the HR term Information System.

QUESTION 14

Explain Accuracy as used in HR information Systems.

QUESTION 15

With an example explain what is meant by Character Check Validation.

QUESTION 16

Explain the difference between Data Entry and Data capture.

QUESTION 17

State two categories of possible data errors.

QUESTION 18

What is the main objective of an HR Information System review?

QUESTION 19

What is meant by System Availability Factors as used in access control to stored information?

QUESTION 20

What is meant by Information Retrieval as used in HR Information Systems?

QUESTION 21

Clearly distinguish between Active Documents and Semi-active Documents.

QUESTION 22

Explain what Relevance Feedback of HR information is.

QUESTION 23

Name three typical Information items that Management would request on HR information.

QUESTION 24

Name two typical Confidential HR Information items.

QUESTION 25

Explain why confidentiality is of the utmost importance in the handling of payroll information.

QUESTION 26

Name and briefly describe TWO “Impacts” on an organisation if the payroll does not conform to budgetary or legal requirements

QUESTION 27

Briefly explain the difference between Gross Pay and Net Pay.

QUESTION 28

Briefly explain the difference between a Bonus and Commission.

QUESTION 29

State two reasons why records should be kept for payrolls.

QUESTION 30

Employers must declare PAYE, SDL and/or UIF on the EMP201 and EMP501 forms.

Explain the basic difference between these two SARS forms.

QUESTION 31

Name a method that an employer can use to give financial recognition to an employer for “work done with excellence”.

 

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