Verification refers to
Select an option to see the answer and solution.
Commerce · all questionsAuditing
Auditing
practice.
Practice every MCQ with options. Use Show answers when you want the correct option and solution.
491
Questions
4/25
Page
Pick an option on a question to see the right answer and solution.
. . . . . . . . is a systematic examination of the books and records or a business.
Select an option to see the answer and solution.
Which of the following pairs are correctly matched?
1. Test Checking ⇔ Random checking
2. Internal Check ⇔ A system of automatic checking
3. Internal Control ⇔ Includes internal check and internal audit
4. Investigation ⇔ General examination of all accounting records
Select the correct answer:
1. Test Checking ⇔ Random checking
2. Internal Check ⇔ A system of automatic checking
3. Internal Control ⇔ Includes internal check and internal audit
4. Investigation ⇔ General examination of all accounting records
Select the correct answer:
Select an option to see the answer and solution.
An auditor conducts a surprise check on the pay day (i.e.) the day wages and salaries are paid. The primary purpose of this audit procedure is:
Select an option to see the answer and solution.
Management audit is ordered by the
Select an option to see the answer and solution.
In case of sales return, the auditor should examine which documents?
Select an option to see the answer and solution.
Which of the following is/are the object(s) of cost audit for organisations?
Select an option to see the answer and solution.
A sale of Rs. 30,000 to A was entered as a sale to B. This is an example of
Select an option to see the answer and solution.
The verification of the value of assets, liabilities, balance of reserves, provision and the amount of profits earned or loss suffered is called . . . . . . . .
Select an option to see the answer and solution.
Match the following in the term of Assertions and Explanation:
| List I (Assertions) | List II (Explanations) |
| a. Cut-off | 1. Assets and liabilities exist |
| b. Classification | 2. Transactions and events have been recorded in proper accounts |
| c. Occurrence | 3. Transactions and events have been recorded in the correct accounting period |
| d. Existence | 4. Transactions and events that have been recorded, have occurred and pertain to the entity |
Select an option to see the answer and solution.
An internal auditor is appointed by
Select an option to see the answer and solution.
Which of the following best describes the primary purpose of audit programme preparation?
Select an option to see the answer and solution.
Which of the following is not a function of an auditor
Select an option to see the answer and solution.
The approach of management auditor should be
Select an option to see the answer and solution.
Which of the following is not true about opinion on financial statements?
Select an option to see the answer and solution.
The sequence of steps in the auditor's consideration of internal control is as follows:
Select an option to see the answer and solution.
Auditors accumulate evidence to
Select an option to see the answer and solution.
Statement I: Energy audit is an indepth check of the amount of energy being utilised.
Statement II: Energy audit includes general and preliminary audit.
Statement II: Energy audit includes general and preliminary audit.
Select an option to see the answer and solution.
'Auditor is not a valuer', was stated in:
Select an option to see the answer and solution.
Which of the following statements is not true?
Select an option to see the answer and solution.