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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 methods of sample selection is least suitable for extrapolating results to the population:
Systematic sampling
Random sampling
Haphazard sampling
None
Author:
rikazzz
Comment
Advance Accounting and Auditing
Under periodic inventory system of goods sold is determined and recognized in the books of accounts:
At the time of purchase of goods
At the time of sale of goods
At the end of the year
None of these
Author:
rikazzz
Comment
Settlement of Audit Objections
Knowledge of the entity’s business does not help the auditor to:
reduce inherent risk
identify problem areas
evaluate reasonableness of estimates
evaluate appropriates of GAAP
Author:
rikazzz
Comment
Mini Budget
Withholding tax on trading in the______ to be removed.
Stock Exchange
Banking sector
Industrial sector
None of these
Author:
rikazzz
Comment
Settlement of Audit Objections
In case of unclaimed wages, the auditor should examine whether:
the amount has been deposited in a separate bank account
deposited with the cashier
held in a safe deposit box
All of these
Author:
rikazzz
Comment
Settlement of Audit Objections
A flow chart, made by the auditor, of an entity’s internal control system is a graphic representation that depicts the auditor’s:
understanding of the system
understanding of fraud risk factors
documentation of assessment of control risk
Both (a) and (c)
Author:
rikazzz
Comment
Annual Budget
Capital investment of an asset Rs 10,000; No residual value at the end of its life of 4 years; Rate of interest 5%. Annual cost of this asset would be:
Rs. 2,821
Rs. 8,221
Rs. 2,281
None of these
Author:
rikazzz
Comment
Settlement of Audit Objections
Which of the following factors is (are) considered in determining the sample size for tests of control?
Projected error
Tolerable error
Expected error
Both a and c
Author:
rikazzz
Comment
Annual Budget
National income estimates in Pakistan is prepared by __________:
Planning commission
SBP
Finance ministry
C.S.O
Author:
rikazzz
Comment
Advance Accounting and Auditing
The amount of overtime premium contained in direct wages would normally be classified as:
Part of prime cost
Factory overhead
Direct labor cost
Administrative overhead
Author:
rikazzz
Comment
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