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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
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Settlement of Audit Objections
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
The quantity of audit working papers complied on engagement would most be affected by:
management’s integrity
auditor’s experience and professional judgment
auditor’s qualification
control risk
Author:
rikazzz
Comment
Annual Budget
Original investment of a project Rs. 24,500; annual cash flow (net) Rs. 7,000; life of the investment 6 years. Payback Probability is:
Rs. 19,500
Rs. 12,000
Rs. 17,500
None of these
Author:
rikazzz
Comment
Annual Budget
Consumption of raw material during the year 1991, 1,08,000 units; desired stock at the year and 13,000 units; expected stock at the beginning of the year 12,000 units. Quantity of materials to be purchased will be:
1,08,000 units.
1,23,000 units.
1,09,000 units.
None of these
Author:
rikazzz
Comment
Settlement of Audit Objections
A departure from recognized accounting principle is disclosed in a note to the financial statements. The auditor should:
issue a standard unqualified audit report
issue a qualified report
issue an unqualified report with ’emphasis of matter’ paragraph
disclaim opinion
Author:
rikazzz
Comment
Mini Budget
Non-filers will be allowed to buy small and mid-size cars up to?
1300 cc
800 cc
1000 cc
1800 cc
Author:
rikazzz
Comment
Annual Budget
Which of the following is not suitable action for a firm to take during a cash flow shortage?
Selling off assets
Extend credit period with suppliers
Overdraft arrangement
Bonus issue of shares
Author:
rikazzz
Comment
Settlement of Audit Objections
Which of the following is most crucial to a purchase department?
Reducing the cost of acquisition
Selecting supplies
Authorizing the acquisition of goods
Assuring the quality of goods
Author:
rikazzz
Comment
Audit
Which of the following is not a fact of EPA?
Economic audit
Efficiency audit
Expenditure audit
Effectiveness audit
Author:
rikazzz
Comment
Settlement of Audit Objections
When applying analytical procedures, an auditor could develop independent estimate of an account balance to compare it to:
client’s unedited account balance
client’s unedited account balance adjusted for trends in the industry
Prior year audited balance
Prior year audited balance adjusted for trends in the industry
Author:
rikazzz
Comment
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