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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
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Audit
Management audit otherwise called as ________
Final audit
Efficiency audit
Cost audit
Cash audit
Author:
rikazzz
Comment
Settlement of Audit Objections
The creditor’s accounts, generally, have credit balance. Debit balance may be due to:
Advance paid against an order
Goods returned
Wrong debit to supplier account
Any of these
Author:
rikazzz
Comment
Settlement of Audit Objections
What auditors seek in the register of non-current assets for each major group of assets:
Details of each item its cost and residual value
Details of each item its cost and accumulated depreciation
Details of each item its cost and depreciation
Details of each item its cost and capital investment expected returns
Author:
rikazzz
Comment
Annual Budget
If annual consumption is 900 unit, the cost of reordering is £8 and the storage and holding cost per unit is £4 then the economic order quantity would be:
15 units
60 units
25 units
90 units
Author:
rikazzz
Comment
Audit
A sale of Rs.50, 000 to A was entered as a sale to B. This is an example of:
Error of omission
Error of commission
Compensating error
Error of principle
Author:
rikazzz
Comment
Settlement of Audit Objections
An Automobile Company hires auditors at the year end. Auditors are at the stage of verification and vouching of company financials. Before examining the equity section, they develop general aspects concerning the owner equity. In your opinion which one of the following aspects may NOT be considered by the auditors during this assessment:
Share capital is properly classified and described in the accounts
Capital stock is enough to execute the company financial needs
Reserves are properly classified and presented
Movements in reserves are properly authorized
Author:
rikazzz
Comment
Advance Accounting and Auditing
Which of the following in revenue expenditure?
Cost of feasibility report
Legal expenses of income tax appeal
Cost of issuance of additional capital
None of these
Author:
rikazzz
Comment
Annual Budget
Actual work in hours 800; budgeted working hours 1,000 calculate the ratio is:
80% Favourable.
20% Favourable.
18% Favourable.
None of these
Author:
rikazzz
Comment
Annual Budget
Difference between cash and profit can be explained by which of the following?
Expenses being paid on time
Not taking credit from suppliers
Cash sales
Cash drawings
Author:
rikazzz
Comment
Settlement of Audit Objections
Which of the following Auditing Assurance Standard deals with Audit Planning?
AAS7
AAS8
AAS9
AAS3
Author:
rikazzz
Comment
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