Accounting Multiple Choice Question – 16 February 2026

A deficiency has been identified in the following area of the company’s purchase system.

For the deficiency below, select the risk which is MOST LIKELY to arise.

-The payment listing produced by the accounting system is ONLY READ by the payments clerk.

Select ONE answer:

1. Goods and services might not be obtained on the most advantageous terms
2. Invoices are paid at the wrong time
3. Invoices may not be recorded, resulting in non-payment
4. The company may not take advantage of the full period of credit extended

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 2

1. Not correct
2. Correct – The risk of invoices not being recorded would arise at the goods received/invoicing stage, before the production of a payment listing.
3. Not correct
4. Not correct

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