Question 1) Identify two basic accounting principles and briefly explain how each is applied in the workplace. Question 2) Identify the two types of ageing accounts found in ageing summaries and briefly explain how each is used using your own words. Question 3) Identify the three types of cash flow activities and briefly explain each using your own words. Question 4) Identify two types of petty cash books and briefly explain how petty cash is recorded on each using your own words. Question 5) Review the following link regarding reporting of Goods and Services Tax (GST): GST reporting methods https://www.ato.gov.au/Business/Business-activity-statements-(BAS)/Goods-and-services-tax-(GST)/GST-reporting-methods/ Answer the following questions based on the link provided

a. Identify ALL information a business is required to report in their Business activity statement (BAS) if they are using the full reporting method b. Identify the condition that would require a business to report GST using the full reporting method. c. Identify ALL information a business is required to report in their BAS if they are using the instalment method.

Question 6) Identify three categories of financial information that is reported in Profit & Loss Statements. Briefly define each using your own words.

Question 7) List two legislations under the Australian Taxation Office (ATO) relevant to business taxation, except GST. Briefly explain the purpose of each legislation using your own words.

Question 8) List two current tax requirements of the Australian Taxation Office (ATO) for businesses aside from the Goods and Services Tax (GST) already listed below. For each tax requirement, including the GST, you must: Identify the following o Link to the ATO requirement o Date you accessed the source o Date the source was last modified Brief explanation of the requirement that the business must pay using your own words

Question 9) Identify two key requirements for financial record-keeping and briefly explain each using your own words.

Question 10) Identify at least two sections of the Corporations Act 2001 containing key requirements for financial auditing. Identify at least one requirement of financial auditing from each section indicated. You must indicate the volume and the section of the Act when identifying the relevant section. Access the following link to assist you in completing this task: Corporations Act 2001 Series https://www.legislation.gov.au/Series/C2004A00818

Question 11) Identify at least three principles for managing work teams and briefly explain how each promotes effective team management.

Question 12) Identify at least two techniques for effective evaluation of financial plans. Briefly explain how each technique can be applied using your own words.

Question 13) Identify the three key financial statements that you must review when conducting an annual evaluation of your financial plans. Briefly explain why each financial statement needs to be evaluated.

Question 14) Identify at least two techniques for evaluating budget plans and briefly explain how each is applied.

Question 15) Identify the two areas that you need to evaluate when reviewing budget plans. Briefly explain why each needs to be reviewed.