Advance Accounting and Auditing
Sales is Mustafa of Rs.10,000 not recorded in the books would affect:
Sales account
Mustafa account
Sales account and Mustafa account
None of these
Sales account and Mustafa account
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Which of the following is an example of non exchange transaction?A. Good lost by fire
B. Electric charges paid
C. Machinery purchased on credit
D. None of these
In comparison to the external auditor, an internal auditor is more likely to be concerned with:
A. Internal administrative control
B. Cost accounting procedures
C. Operational auditing
D. Internal accounting control
Revenue is most commonly recognized at the time when:
A. Cash is collected
B. The order is received from customers
C. The sale is made
D. None of these
All of the following are forms of business organizations except:
A. Proprietorship
B. Corporation
C. Retailer
D. Partnership
The first auditor of a public Limited Company is appointed by the directors within:
A. 30 days of incorporation
B. 60 days of incorporation
C. 90 days of incorporation
D. 120 days of incorporation
Which of the following is least important in deterring the fair market value of a share?
A. Earning and dividends per share
B. Book value per share
C. The available supply of shares and demand to purchase
D. The per value of share
Any expenditure incurred to increase the profit earning capacity of the concern is a :
A. Revenue Expenditure
B. Current Expenditure
C. Capital Receipt
D. None of these
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