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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
Settlement of Audit Objections
Which of the following is not included in the category of cash:
Deposit with banks
Checks
Postdated checks
Money orders
Author:
rikazzz
Comment
Settlement of Audit Objections
Which of the following documents is not relevant for vouching cash sales:
Daily cash sales summary
Salesmen’s summary
Monthly statements sent to customers
Bank statement
Author:
rikazzz
Comment
Internal Control
The independence of an internal auditor will most likely be assured if he report to the:
President Finance
President system
Managing Director
CEO
Author:
rikazzz
Comment
Audit Evidence
When a bill is dishonored, the holder of a the bill goes to an official called:
Clerk
Notary public
Inspector
Agent
Author:
rikazzz
Comment
Settlement of Audit Objections
When auditing prepaid insurance, an auditor discovers that the insurance policy bond on building is not available for inspection. This may indicate:
No insurance has been undertaken for building
Lien on building
Insurance premium has not been paid
Insurance premium paid but not recorded
Author:
rikazzz
Comment
Annual Budget
The principle budget factor for a consumer goods manufacturer is normally:
Sales demand.
Labour shortage.
Both sales and labour.
None of these
Author:
rikazzz
Comment
Settlement of Audit Objections
The working papers which auditor prepares for financial statements audit are:
evidence for audit conclusions
owned by the client
owned by the auditor
retained in auditor office until a change in auditors
Author:
rikazzz
Comment
Scrutiny of Record for Audit Purpose
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 procedures is
to ensure that there are no ghost workers
to ensure the casual workers employed are authorized by the supervisor
to test procedures for distributing pay cheques
to obtain understanding of internal control system
Author:
rikazzz
Comment
Annual Budget
A budget which by recognizing the difference in behavior between fixed and variable costs in relation to fixations in output turnover or other factors, is designed to change appropriately with such fluctuations.
Flexible budget
Master budget
Production budget
None of these
Author:
rikazzz
Comment
Advance Accounting and Auditing
Audit and special audit are the same:
In Insurance company
In Banking Company
In Organization
None of these
Author:
rikazzz
Comment
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