Which of the following is NOT a control objective of internal controls?
Batch Controls

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Other
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University
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Medium
Raymond Cramer
Used 4+ times
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8 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Completeness
Accuracy
Rights and Obligations
Occurrence and Authorisation
Answer explanation
Rights and Obligations is not an objective of internal controls, but rather an auditing assertion.
2.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Based on the information in question 1.5, what is the Financial Total?
R 9 641.00
R 9 614.00
R 139 496.00
R 6.00
R 6 941.00
Answer explanation
The correct answer is R 9 641.
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Based on the information in question 1.5, what is the Hash Total?
9 641
139 496
6
264
219
Answer explanation
The correct answer is 139 496. The total of any numerical field other than the financial total field. It does not have to make logically sense.
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Based on the information in question 1.5, what is the Record Total?
9 641
139 496
47 878
6
Answer explanation
The correct answer is 6. This is the total number of records in the batch.
5.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which of the following should be included on the batch control sheet?
TIP: This question has more than 1 correct answer.
Unique Batch number
Control Totals
Identification of the transaction
Signatures of the staff responsible for the batch
Answer explanation
All of the answers are correct. All of the information should be included in the batch control sheet.
6.
MULTIPLE SELECT QUESTION
1 min • 2 pts
Which control objective(s) are addressed by comparing the FINANCIAL TOTAL calculated on the Batch Control sheet to the Financial Total calculated by the computer?
TIP: This question can have more than one correct answer.
Accuracy
Completeness
Authorisation
Occurance
Answer explanation
The FINANCIAL TOTAL provides assurance over the completeness and the accuracy of the transaction values. I.E. All the transactions have been captured at the correct amounts.
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which control objectives does the Record Total address when comparing the record total calculated in the batch control sheet to the record total calculated by the computer?
Completeness
Accuracy
Authorisation
Occurrence
Answer explanation
The RECORD TOTAL provides assurance over ONLY the completeness of the transactions. I.E. All the transactions have been captured.
8.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Based on the information provided in question 1.5: Assume that the HASH TOTAL entered into the computer system by Mr. T Jonas is 139 496 before he captures the information. After all the information was captured, the computer system calculated the HASH TOTAL as 139 469. Should the computer system allow the processing of the batch to continue?
Yes, processing can continue
No, processing cannot continue
I am not sure
What is going here? Am I even in the right class?
Answer explanation
The correct answer is that processing should not continue. Because the total BEFORE the transaction does not match the total AFTER the transactions, it means that there is a mistake, duplicate or missing transaction.
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