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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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Advance Accounting and Auditing
Books of original entry are called:
Ledger
Worksheets
Journal
None of these
Author:
rikazzz
Comment
Scrutiny of Record for Audit Purpose
The auditor has noticed existence of recurring losses sale of fixed assets this indicates
depreciation charges are insufficient
policy of sale or disposal of fixed assets needs to be reviewed
the sale of assets has not been properly authorized
accounting errors
Author:
rikazzz
Comment
Annual Budget
Fiscal deficit in the budget means:
Revenue deficit plus the net borrowing of the government
Budgetary deficit plus the net borrowing of the government
Capital deficit plus revenue deficit
Primary deficit minus capital deficit
Author:
rikazzz
Comment
Scrutiny of Record for Audit Purpose
An auditor is verifying valuation of building which has been self-constructed by the client. Which of the following documents is least relevant to the auditor for verification purposes
bills of contractor
minutes of meeting of board of directors
certificates of engineer and architect
loan agreement
Author:
rikazzz
Comment
Settlement of Audit Objections
If the auditor assesses control risk as high:
Document the conclusions
documents the reasons along with conclusions
perform tests of control
perform walk through tests
Author:
rikazzz
Comment
Annual Budget
Which of the following would cause income to become more unequal?
Increased employment
Increased unemployment allowance
More progressive taxes
More regressive taxes
Author:
rikazzz
Comment
Audit
Who is responsible for the appointment of statutory auditor of a liquid company?
Directors of the company
Members of the company
The central Government
All of these
Author:
rikazzz
Comment
Annual Budget
Which of the following is not involved with fiscal policy?
Income tax
National insurance
VAT
Interest rates
Author:
rikazzz
Comment
Annual Budget
If annual consumption is 2500 units, the cost of reordering is £100 and the storage and holding cost per unit is £2, then the economic order quantity would be:
707 units
433 units
500 units
1,000 units
Author:
rikazzz
Comment
Audit
Concurrent audit is a part of _______
Internal check system
Continuous audit
Internal audit system
None of these
Author:
rikazzz
Comment
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