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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 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
Audit
The audit which is review of any of an entity’s operating procedures and method is known as:
Financial statement audits
Operational audits
Technical audit
Compliance audits
Author:
rikazzz
Comment
Settlement of Audit Objections
The auditor should state the reasons for his reservations in audit report and should try to quantify the effect on them. This should be done in case he has expressed:
a qualified opinion
an unqualified opinion with emphasis of matter paragraph
Disclaimer of opinion
adverse opinion
Author:
rikazzz
Comment
Annual Budget
When a government entity has revenues from taxes, fees and other impositions which exceed its budgeted outlays, it is said to have a ___________
Improved profits
Traditional budgeting
Budget Surplus
Budget Deficit
Author:
rikazzz
Comment
Annual Budget
A supply curve that starts at the origin has:
A price elasticity of supply greater than one
A price elasticity of supply equal to one
A price elasticity of supply less than one
A positive price elasticity of supply
Author:
rikazzz
Comment
Scrutiny of Record for Audit Purpose
Which of the following would prevent double payment of the same voucher?
A person signing the chques should cancel the supporting documents
Chques should be signed by at best two persons
the data of payment of vouchers of similar nature should be the same or close to each other
All of these
Author:
rikazzz
Comment
Annual Budget
Actual working hours 600, Budgeted production 88 units, Actual standard hours per unit 10. Efficiency ratio is:
68.18% Favourable.
85.23% Favourable.
125% Favourable.
None of these
Author:
rikazzz
Comment
Scrutiny of Record for Audit Purpose
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
Annual Budget
Which of the following is not a way of helping developing economies?
Aid
Loans
Protectionism of developed markets
Training and educational programs
Author:
rikazzz
Comment
Annual Budget
According to the Phillips curve unemployment will return to the natural rate when:
Nominal wages are equal to expected wages
Real wages are back at equilibrium level
Nominal wages are growing faster than inflation
Inflation is higher than the growth of nominal wages
Author:
rikazzz
Comment
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