Exam (elaborations)
AUE2602 Assessment 4 Semester 1 2023 Solutions
- Institution
- University Of South Africa (Unisa)
AUE2602 Assignment 4, Semester 1 2023 Solution. Pass above 90%
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5/10/23, 7:37 PM Assessment 4: Attempt reviewMENU
Dashboard / Courses / UNISA / 2023 / Semester 1 / AUE2602-23-S1 / Welcome Message / Assessment 4
Started on Wednesday, 10 May 2023, 7:09 PM
State Finished
Completed on Wednesday, 10 May 2023, 7:36 PM
Time taken 27 mins 4 secs
Marks 29.00/30.00
Grade 96.67 out of 100.00
Question 1
Complete
Mark 2.00 out of 2.00
1. Green-Green Market Ltd is a wholesaler supplying fresh fruits and vegetables to a number of large retail grocery stores across South
Africa. Green-Green Market Ltd purchases inventory (fruits and vegetables) directly from farmers and repackages the fruits and vegetables
into smaller units for household consumption, before sales to retail stores take place. The following control procedure takes place in the
acquisition and payments cycle:
The head of the creditor’s section, Ms Payme, does not have write access to the payment schedule file.
Which one of the following alternatives best describes the function within the computerised acquisition and payment cycle the above
procedure relates to?
a. Creditors masterfile
b. Ordering of goods
c. Receiving and recording of goods.
d. Payment of creditors by electronic funds transfer
e. Approval of payment
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=10512776&cmid=591676 1/8
, 5/10/23, 7:37 PM Assessment 4: Attempt review
Question 2
Complete
Mark 2.00 out of 2.00
MENU
1. You are the senior auditor on the audit of Green-Green Market Ltd for the financial year ending 30 June 2022. Green-Green Market Ltd
Dashboard / Courses / UNISA / 2023 / Semester 1 / AUE2602-23-S1 / Welcome Message / Assessment 4
is a wholesaler supplying fresh fruits and vegetables to a number of large retail grocery stores across South Africa. You have assessed that
there is a risk that the client may overstate the inventory account balance by not writing off perished inventory.
You are therefore likely to pay particular attention to further audit procedures which provide evidence relating to…
Select the option to best complete the sentence above.
a. Completeness of inventory
b. Valuation and allocation of inventory
c. Existence of inventory
d. Rights of inventory
e. Occurrence of Inventory
Question 3
Complete
Mark 2.00 out of 2.00
1. Green-Green Market Ltd is a wholesaler supplying fresh fruits and vegetables to a small number of large retail grocery stores across
South Africa. Green-Green Market Ltd has recently decided to expand sales to smaller retail grocery stores. The following control procedure
takes place in the revenue and receipts cycle:
All journal entries for the write-off of a debtor, are authorised by Mr Doubtful, the credit controller and the senior financial accountant, Mr
Moneymaker.
Which one of the following alternatives best describes the function within the receipts and revenue cycle, the above procedure relates to?
a. Receiving customer orders.
b. Sales authorisation.
c. Recording of sales.
d. Credit Management.
e. Debtors Masterfile
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=10512776&cmid=591676 2/8
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