Skip to content
MCQtimes.com
GK
Pakistan Studies
Current Affairs
Islamic Studies
English
MCQtimes.com
Toggle Menu
Auditing
Home
/
Auditing
- Page 67
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
Annual Budget
Fiscal drag occurs when:
Tax bands do not increase with inflation
Tax rates move inversely with inflation
Government spending falls to reduce aggregate demand
Tax bands increase with inflation
Author:
rikazzz
Comment
Settlement of Audit Objections
The client changed method of depreciation from straight line to written down value method. This has been disclosed as a note to the financial statements. It has an immaterial effect on the current financial statements. It is expected, however, that the change will have a significant effect on future periods. Which of the following option should the auditor express:
unqualified opinion
qualified opinion
disclaimer of opinion
adverse opinion
Author:
rikazzz
Comment
Settlement of Audit Objections
Which of the following factors is most important in determining the appropriations of audit evidence:
The reliability of audit evidence and its relevance in meeting the audit objective
The objectivity and integrity of the auditor
The quantity of audit evidence
The independence of the source of evidence
Author:
rikazzz
Comment
Annual Budget
James sells bicycles at a gross profit margin of 40%. Which of the following statement is true?
Bicycles costing Rs. 500 will be sold for Rs. 1,250
Bicycles costing Rs. 500 will be sold for Rs. 833,33
Bicycles costing Rs. 500 will be sold for Rs. 700
Bicycles costing Rs. 500 will be sold for Rs. 800
Author:
rikazzz
Comment
Settlement of Audit Objections
The audit engagement letter, generally, should include a reference to each of the following except:
limitations of auditing
responsibilities of management with respect to audit work
expectation of receiving a written management representation letter
a description of the auditor’s method of sample selection
Author:
rikazzz
Comment
Annual Budget
Pakistan’s public debt is:
Larger than GNP
Approximately equal to GNP
Small than GNP
Smaller than our exports
Author:
rikazzz
Comment
Annual Budget
Which of the following is an injection into the economy?
Investment
Savings
Import spending
Taxation
Author:
rikazzz
Comment
Audit
Balance sheet audit includes verification of _______
Assets
Liabilities
Income and expense accounts where appropriate
All of these
Author:
rikazzz
Comment
Settlement of Audit Objections
Which one of the following is most likely to indicate fraud:
Several over payments are made for goods received from a supplier
The year end cash balance does not include cash in transit to the company at year-end
A check received after year end was inadvertently recorded as if received before year-end
A documented loan is sanctioned to an officer of the company
Author:
rikazzz
Comment
Settlement of Audit Objections
Which of the following is the most appropriate potential reaction of the auditor to his assessment that the risk of material misstatement due to fraud is high in relation to existence of inventory:
Visit location on surprise basis to observe test counts
Request inventory count at a date close to year end
Vouch goods sent on approval very carefully
Perform analytical procedures
Author:
rikazzz
Comment
Page navigation
Previous Page
Previous
1
…
65
66
67
68
69
Next Page
Next
Go to Page
Light
Dark
GK
Pakistan Studies
Current Affairs
Islamic Studies
English