Skip to content
MCQtimes.com
GK
Pakistan Studies
Current Affairs
Islamic Studies
English
MCQtimes.com
Toggle Menu
Auditing
Home
/
Auditing
- Page 16
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
Advance Accounting and Auditing
A company pays income tax at the rate of 40% the net income after tax is Rs.24 The net income before tax is:
Rs.40
Rs.80
Rs.24
Rs.16
Author:
rikazzz
Comment
Annual Budget
A fall in price:
Will cause an inward shift of demand
Will cause an outward shift of supply
May be caused by a fall in demand
Leads to a higher level of production
Author:
rikazzz
Comment
Settlement of Audit Objections
Which of the following is not an inherent limitation of internal control system:
Management override
Collusion among employees
Inefficiency of internal auditor
Abuse of authority
Author:
rikazzz
Comment
Annual Budget
Which of the following statements are true?
Cash sales are made when cash is received at the same time as the goods or services are delivered
Credit sales are made when the payment is received after the goods or services have been delivered
Cash purchases are those purchases foe which cash payment will be made at the same time as the goods or services are received
Credit purchases are when the goods or services have not yet been received by the business and payment has not yet been made
Author:
rikazzz
Comment
Settlement of Audit Objections
Which one of the following persons is responsible for the preparation of Audit engagement later:
Auditor
Client
Company registrar
Company secretary
Author:
rikazzz
Comment
Annual Budget
A system where stocks are not held until they are needed is known as:
Just in time
Production budgeting
Economic order quantity
Total quantity management
Author:
rikazzz
Comment
Audit
_______ the audit risk_______ the materiality and _______ audit effort.
Lower, Higher, Lower
Lower, Lower
Higher, Lower, Lower
Lower, Higher, Higher
Author:
rikazzz
Comment
Audit
Auditing begins where ________ ends.
Selling
Inventory valuation
Accounting
Purchases
Author:
rikazzz
Comment
Settlement of Audit Objections
Which of the following statements is not correct about materiality:
Materiality is a relative concept
Materiality judgments involve both quantitative and qualitative judgments
Auditor’s consideration of materiality is influenced by the auditor’s perception of the needs of an informed decision maker who will rely on the financial statements
At the planning state, the auditor considers materiality at the financial statement level only
Author:
rikazzz
Comment
Audit
Which of the following is not corroborative evidence?
Minutes of meetings
Confirmation from debtors
Information gathered by auditor through observation
Worksheet supporting consolidated financial statement
Author:
rikazzz
Comment
Page navigation
Previous Page
Previous
1
…
14
15
16
17
18
…
69
Next Page
Next
Go to Page
Light
Dark
GK
Pakistan Studies
Current Affairs
Islamic Studies
English