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Auditing
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Auditing
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Advance Accounting and Auditing
90
Scrutiny of Record for Audit Purpose
44
Mini Budget
18
Audit Evidence
1
Audit
82
Annual Budget
209
Internal Control
9
Settlement of Audit Objections
234
Show/Hide Answers
Annual Budget
As an economy grows:
The government’s budget position should automatically improve
The government’s budget position should automatically worsen
This will have no effect on the government’s budget position
This will reduce the government’s tax revenue
Author:
rikazzz
Comment
Annual Budget
Potential growth measures:
The growth of the fastest economy in the world
The fastest growth an economy has ever achieved
The present rate of growth of an economy
The rate of growth that could be achieved if resources were fully employed
Author:
rikazzz
Comment
Settlement of Audit Objections
The use of an audit engagement letter is the best method of assuring the auditor will have which of the following:
Auditor will obtain sufficient appropriate audit evidence
Management representation letter
Access to all books, accounts and vouchers required for audit purpose
Cooperation from other auditors
Author:
rikazzz
Comment
Annual Budget
Capital outlay Rs. 12,000. Annual cash flow (net) Rs. 6,000. Life of the asset 3 years. Payback reciprocal is:
60 per cent
50 per cent
70 per cent
None of these
Author:
rikazzz
Comment
Mini Budget
Non-filers can buy a house worth of _____ lackh.
20 lac
30 lac
40 lac
50 lac
Author:
rikazzz
Comment
Settlement of Audit Objections
Auditing begins where ______ ends:
Selling
inventory valuation
Accounting
Purchases
Author:
rikazzz
Comment
Settlement of Audit Objections
Which of the following is not an advantage of the preparation of working paper:
To provide a basis for review of audit work
To provide a basis for subsequent audits
To ensure audit work is being carried out as per Programme
To provide a guide for advising another client on similar issues
Author:
rikazzz
Comment
Audit
The audit that is made compulsory under statute is called ________
Statutory audit
Partial audit
Complete audit
Continuous audit
Author:
rikazzz
Comment
Advance Accounting and Auditing
In the accounting cycle:
Closing entries are made before adjusting entries
Closing entries are made after the adjusting entries
Adjusting entries are made after financial statement are prepared
Financial statements are prepared after closing trial balance
Author:
rikazzz
Comment
Settlement of Audit Objections
A number of checks and controls exercised in a business to ensure its efficient working is known as:
Internal check
Internal control
Internal audit
Interim check
Author:
rikazzz
Comment
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