1. True or false: Technology is important for large corporations, but it's not as significant for smaller, growing businesses.
a) True
b) False

2. Which of the following common mistakes are particularly costly to small businesses?
a) Failing to track reimbursable expenses
b) Forgetting to save required receipts
c) Failing to reconcile the books with the bank statement each month
d) Neglecting to maintain an audit trail
e) Forgetting to deduct required taxes
f) All of the above

3. Which of the following are likely to be essential components of your company's financial recordkeeping?
a) Purchasing
b) Invoicing
c) Payroll
d) Customer service
e) Accounting
f) All of the above

4. Which of the following conditions may be a sign that you have outgrown your current accounting software?
a) Your software crashes or slows down whenever five or more employees try to access the data
b) Employees are often asked to interrupt their work and close accounting software on their local machines to permit a single user to run queries or reports
c) Financial reports take too long to print
d) Employees repeatedly ask to install additional accounting software so they can complete common tasks
e) A lack of data integration forces users to maintain identical information in multiple programs
f) Any of the above

5. Describe the typical level of integration available through basic accounting packages.
a) Users key in all business information from scratch
b) Users can import existing data from spreadsheets or existing accounting software, but there's no ongoing synchronisation between the two
c) Users enjoy two-way access to all relevant data stores, exchanging information seamlessly with spreadsheets, databases, calendars and contact-management software from a broad range of vendors