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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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Advance Accounting and Auditing
Which of the following is an agricultural income?
Royalty income from mines
Income from cultivation of rice
Income from sale of irrigation water
Income from poultry farm
Author:
rikazzz
Comment
Annual Budget
In a recession a government:
Is likely to want to increase demand in the economy
Is likely to want to decrease demand in the economy
Is likely to want to stabilize demand in the economy
Is likely to want to increase supply in the economy
Author:
rikazzz
Comment
Annual Budget
What is the difference between “vote-on account” interim budgets? Which of the following is correct?
The provision of a “vote-on-account” is used by a regular Government, while an “interim budget” is a provision used by a caretaker Government
A “vote-on-account” only deals with the expenditure in Government’s budget, while an “interim budget includes both expenditure and receipts
Both A and B
None of these
Author:
rikazzz
Comment
Audit
One of the audit procedures to check the issue of share capital of the newly formed company is ________
The memorandum of association and articles of association
the share transfer register
The issue of debenture
None of these
Author:
rikazzz
Comment
Internal Control
The primary purpose of performing tests of control is to provide reasonable assurance that _____
If internal control is effective
Accounting system is well documented
Written evidence is there to support transactions
None of these
Author:
rikazzz
Comment
Audit
The main objects of investigation is ________
to discover errors and frauds
To prevent errors and fraud
To verify statements
All of these
Author:
rikazzz
Comment
Annual Budget
The overall budget deficit is financed from:
External borrowing
Non-bank borrowing domestically
Both A and B
None of these
Author:
rikazzz
Comment
Settlement of Audit Objections
Of the following, which is the least persuasive type of audit evidence:
Bank statements obtained from the client
Documents obtained by auditor from third parties directly
Carbon copies of sales invoices inspected by the auditor
Computations made by the auditor
Author:
rikazzz
Comment
Settlement of Audit Objections
The purpose of the audit of wage payment is to determine that:
the work is executed completely for which the workers are paid wages
the workers are paid the correct amount of wages under proper authorization
the workers are working regularly
none of the above
Author:
rikazzz
Comment
Advance Accounting and Auditing
The cash basis of accounting:
In widely used by manufacturing firms
Is often used by merchandising firms
Usually results in a larger amount of tax
Cannot be used in filing income tax returns
Author:
rikazzz
Comment
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