Skip to content
MCQtimes.com
GK
Pakistan Studies
Current Affairs
Islamic Studies
English
MCQtimes.com
Toggle Menu
Auditing
Home
/
Auditing
- Page 34
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
Audit
Which of the following is true about explanatory notes?
These are given by the directors of the company
These are given by auditors of the company in auditor’s report
These are given to adhere to requirements of law
All of these
Author:
rikazzz
Comment
Annual Budget
A subsidy paid to the producers:
Shifts the supply curve
Shifts the demand curve
Leads to a contraction in supply
Leads to an contraction of supply
Author:
rikazzz
Comment
Settlement of Audit Objections
An analysis of fixed assets account has revealed possibility of unrecorded sale of plant and machinery. Which of the following audit procedures may be adopted to discover it:
Examination of property tax files
Inquiry of plant manager
Examination of debits to accumulated depreciation
All of the above
Author:
rikazzz
Comment
Annual Budget
If injections are greater than withdrawals:
National income will increase
National income will decrease
National income will stay in equilibrium
Prices will fall
Author:
rikazzz
Comment
Audit
The owner of the company are called ________
Debenture holder
Debtors
Shareholders
None of these
Author:
rikazzz
Comment
Settlement of Audit Objections
The use of an audit engagement letter is the best method of documenting:
the required communication of significant deficiencies in internal control
Notification of any changes in the original arrangements of the audit
Objective and scope of auditor’s work
(B) and (A)
Author:
rikazzz
Comment
Settlement of Audit Objections
Which of the following factors would least likely affect the quantity and content of an auditor’s working papers:
The assessed level of control risk
The possibility of peer review
The nature of auditor’s report
The content of management representation letter
Author:
rikazzz
Comment
Internal Control
Proper segregation of duties reduces the opportunities in which a person welt both:
Establish controls and executes them
Records cash receipts and cash payments
Perpetuate errors and frauds and conceals them
Record the transaction in journal and ledger
Author:
rikazzz
Comment
Internal Control
Tests of control are not concerned with:
Existence of controls
Effectiveness of controls
Continuity of controls
Designing of controls
Author:
rikazzz
Comment
Annual Budget
“Reduction inflation is a more important objective than economic growth” is an example of:
Normative economics
Positive economics
Objective economics
Reality economics
Author:
rikazzz
Comment
Page navigation
Previous Page
Previous
1
…
32
33
34
35
36
…
69
Next Page
Next
Go to Page
Light
Dark
GK
Pakistan Studies
Current Affairs
Islamic Studies
English