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Auditing
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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 one of the following matters should be included in the letter of representation:
Existence of any immaterial mistake in the statements
Existence of any fraud or error in the statements
Company growth trend in the future in figures
Market value of the company stock
Author:
rikazzz
Comment
Settlement of Audit Objections
The main object of the audit of the cash book may be:
to verify the assets and liabilities
to know that all receipts and payments have been properly recorded
to check the internal control system in business
to check the bank balance
Author:
rikazzz
Comment
Settlement of Audit Objections
Which of the following factors would least likely affect the quantity and content of an auditor’s working papers?
The assessed level of control risk
The possibility of peer review
The nature of auditor’s review
The nature of auditor’s report
Author:
rikazzz
Comment
Advance Accounting and Auditing
Net income plus operating expenses in equal to:
Net sales
Cost of goods available for sale
Cost of goods sold
Gross profit
Author:
rikazzz
Comment
Annual Budget
If the exchange rate is below the equilibrium level:
There is excess demand and the exchange rate will fall
There is excess supply and the exchange rate will fall
There is excess demand and the exchange rate will rise
There is excess supply and the exchange rate will rise
Author:
rikazzz
Comment
Advance Accounting and Auditing
Discovery of business opportunities and management ability to set up a business is called:
Incorportion
Integration
Amalgamation
Promotion
Author:
rikazzz
Comment
Annual Budget
The activity ratio of a concern is 95.6% whereas the capacity ratio is 105%. The efficiency ratio is:
91%.
100.3%.
98%.
None of these
Author:
rikazzz
Comment
Audit
Audit of banks is an example of _______
Statutory audit
Concurrent audit
Balance sheet audit
All of these
Author:
rikazzz
Comment
Advance Accounting and Auditing
Which of the following accounts would usually have a debt balance?
Cash
Creditors
Accounts payable
Salaries Expense
Author:
rikazzz
Comment
Settlement of Audit Objections
To test whether sales have been recorded, the auditor should draw a sample from a file of:
purchase orders
sales orders
sales invoices
bill of loading
Author:
rikazzz
Comment
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