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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
Identify which items are subtract from the list amount and not recorded when computing purchase price.
Freight in
Trade discount
Purchases discount
Purchases return
Author:
rikazzz
Comment
Audit
Stratification is a process of dividing a population into sub-population which have
Heterogeneous characteristics
nothing in common
A lot of sampling units
Homogeneous characteristics
Author:
rikazzz
Comment
Annual Budget
The accelerator assumes:
The marginal propensity to consume is constant
The economy is a full employment
There is a constant relationship between net investment and the rate of change of output
The multiplier is constant
Author:
rikazzz
Comment
Annual Budget
Deficiency is a lack or shortage of ____________
Money in a fund
Expenditure authority due to an insufficient appropriation
Expenditure authority due to a cash problem, e.g. reimbursements not received on a timely basis
All of these
Author:
rikazzz
Comment
Settlement of Audit Objections
An auditor is like a:
Watchman
foolish dog
mad dog
watch dog
Author:
rikazzz
Comment
Settlement of Audit Objections
In order to vouch bought ledger, the auditor obtain confirmations from creditors. The principal reason for the auditor to examine suppliers statements at balance sheet date is to obtain evidence that:
The supplier exist
There are no unrecorded liabilities
Recorded purchases actually occurred
None of these
Author:
rikazzz
Comment
Advance Accounting and Auditing
If income year of a salaried person ends on 30th June, 2008 then tax year would be:
2007-08
2008-09
2009-10
2008
Author:
rikazzz
Comment
Settlement of Audit Objections
What is the primary objective of analytical procedures used in the overall review stage of an audit:
To help to corroborate the conclusions drawn from individual components of financial statements
To reduce specific detection risk
To direct attention to potential risk areas
To satisfy doubts when questions arise about a client’s ability to continue
Author:
rikazzz
Comment
Scrutiny of Record for Audit Purpose
Which of the following financial statements assertions are addressed by testing the cutoff of plant asset addition?
Existence and ownership
Valuation and disclosure
Possession and ownership
Completeness and valuation
Author:
rikazzz
Comment
Advance Accounting and Auditing
Income and expenditure account is a non trading institution records transaction of:
Revenue nature only
Capital nature only
Both A and B
Income of revenue,expenditure of revenue and capital nature
Author:
rikazzz
Comment
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