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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
Which of the following statements is most closely associated with analytical procedure applied at substantive stage:
It helps to study relationship among balance sheet accounts
It helps to discover material misstatements in the financial statements
It helps to identify possible oversights
It helps to accumulate evidence supporting the validity of a specific account balance
Author:
rikazzz
Comment
Advance Accounting and Auditing
Which of the following is an example of internal transaction?
Cash received from debtor
Goods sold on credit
Supplies consumed in the office
Salaries paid to employees
Author:
rikazzz
Comment
Audit
Which one of the following many not is any matter relevant to verification of assets?
Taxation
Vouching
Insurance
The letter of representation
Author:
rikazzz
Comment
Annual Budget
A plan expressed in financial terms may also be known as a:
Balanced scorecard
Forecast
Final account
Budget
Author:
rikazzz
Comment
Advance Accounting and Auditing
Error due to wrong allocation as expenditure capital and revenue is regarded as :
Error of Omission
Error of Principle
Compensation Errors
None of these
Author:
rikazzz
Comment
Settlement of Audit Objections
Audit of banks is an example of:
Statutory audit
Concurrent audit
Balance sheet audit
All of the above
Author:
rikazzz
Comment
Annual Budget
The amount by which the actual sales volume surpasses the break even sales volume is known as:
Budget sales
Margin of safety
Margin of sales
Contribution margin
Author:
rikazzz
Comment
Annual Budget
Expected sales 50,000 units; desired closing stock 14,000 units; expected opening stock 10,000 units; estimated production will be:
74,000 units.
54,000 units.
46,000 units.
None of these
Author:
rikazzz
Comment
Annual Budget
If people are made unemployed because of a fall in aggregate demand this is known as:
Frictional unemployment
Seasonal unemployment
Cyclical unemployment
Structural unemployment
Author:
rikazzz
Comment
Settlement of Audit Objections
When the cash sales should be recorded by the companies in order to achieve control objectives:
Record the cash sales when purchase order is received from the customer
Record the cash sales at the point they are made
Record the cash sales after some period
Record the cash sales weekly
Author:
rikazzz
Comment
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