The internal control objective of 'classified' means there are controls in place to ensure that:
A) fictitious or duplicate transactions are not included in the books of an organisation
B) amounts are assigned to transactions
C) transactions are recorded in the accounting period
D) transactions are charged and allocated to the general ledger account

Question

Quizplus · Accepted Answer

The 'classified' objective in internal control ensures that transactions are charged and allocated to the correct general ledger accounts, maintaining proper categorization and classification in financial records.

The Internal Control Objective of 'Classified' Means There Are Controls