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ontt- |, nciples of Auditing and Audit, Prog, , (reds Choice Questions ,, , 1) Isa systematic examination of the books and reonres ora business ~, a) Auditing b) Vouching c) Verification d) Checking ,, 2) Which of the following is not a kind of audit?, , a) Statutory and priva ", nt and continuous audit., Saree h, Cost and Management audit., , c) Continuous, final, Interim, Cas!, , d) None of these., 3) This kind of audit i, , te audit., , ly between two annual audits,, , s conducted general, b) Interim audit., , a) Internal audit. !, c) Final audit. d) Continuous audit., '4) Before the work of audit is commenced, the auditor plans out the Whole y, audit work is called., a) Audit plan. : ‘ b) Audit note., c) Audit risk. d) Audit programme., 5) Internal auditor is appointed by., a) The management. b) the shareholders, _ d) The statutory body., , c) The government., 6) Various types of quality audits ate:, b) management:(system), , a) product i, c) registration (certification) =" d) “All of above, When the auditor is an employee of the organization:being audited (audited,, , the audit is classified as a --—---------- -- quality audit.) 9";, a) internal b) external c) compliance’? d) BothA&B, , 8) Audit Note Book is a ---------------. ., a) Personal notebook of an auditor., b) Record of important points and enquires which, , 7), , an auditor has to refer tots, , , , , clients, a, c) aa of mistake and errors detected during the Gotirse of audit of accout, 00ks, : Y Pecriteg ie, , , , d) Record of work performed by an auditor., 9) The working papers which auditor prepares for fina, , BAe, , Tie Wer ncial statements auditar, a) Evidence for audit conclusions, |, b) Owned by the client:, , c) Ownéd by the auditor, REE, d) retained in auditor office until a change In auditors

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—_—_—, , 10)Which of the following is not an advantage of the preparation of working, paper?, a) To provide a basis for review of audit work., b) To provide a basis for subsequent audits., c) To ensure audit work is being carried out as per Programme., d) To provide a guide for advising another client on similar issues., 11) The auditor permanent working paper file should not normally, include ----a) Extracts from clients bank statements., b) Past years financial statements., c) Attorney letters., d) debt agreements, 12)The main purpose of an independent audit is to --------------. :, a) Check and correct frauds and errors., b) Help in detecting frauds and errors., c) Determine if the financial statements fairly represent the actual financial position, and the working results of the organization., , d) Help in formulating future plans., ------- refers to such audit programme aes plans for the auditor are, , , , 13), not fixed., a) Special audit. eB) Fixed aut, c) Pre-determined’audit. °°". “9 ad) None of thése. *, 14)Which of the following best costimee the primary iatsees of audit programmed, preparation? i 3 Teh, , a) To detect errors or fraud.<, b) To comply with GAAP. ime ia, c) To gather suffi cient appropriate evidence: sins ns}, d) To assess audit risk. ,, , , 15)Internal controls and internal CHECK ALE. vwrrnmnencennen, ,, a) One and the same. ‘, b) Different., c) Internal control includes internal. check,, , d) None of the above, 16) The work of one eclerh is automatically check by ar ano, , , , , , , a) Internal control. ae

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Introduction to Principles of Auditing and Audit p, , 17)Which of the following are not objectives of oe thet, 8) Ascertain the profit and preparation of P/L Account, Ba, b) Detection and prevention of frauds and errors,, ©) Give a true and fair view of financial amount., q) To submits the accounts to Government of India., , FOCeg,, , 18) Auditing is derived from the Latin Word ------------- oe, , a) Audire b) Auditor c) Order d) None of these, 1 8) Auditing is Sone tenn enn, :, , a) Anart ~b) Ascience ’, , ©) Above both (a) and (b) d) None of these, 20) Auditing is related with ........ onan,, , a) Accountancy b) Economics Cc) Ethics. ¢ d) -All above, , Ans: 1}-a, 2) d, 3) b, 4) d, 5) a, 6) d, 7) a, 8) c, 9) c,. 10) d, 11).a, 12). 13), , 17) d, 18) a, 19) ¢, 20) 4,

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UM V4 Vs, Checking,, , eer Multiple Choice ee Tents, , yoher is a COCUMENE m-r--nnncnonns,, 0!, , 4) yp support of an entry made in the books of accounts,, a isan extra-ordinary meeting, when all other directors are out of station,, ¢, , One person can never constitute the quorum,, prelate £0 -----------.0.. ", , Vouching and Audit Report, , », , youche, ‘) cash receipt., , b) Cash payment:, ¢) credit transactions., , d) All the above,, , y For youching of which item, the auditor is Most likely to examine cost records?, 4) Commission eared. b) Bad debts recorded., ¢) Credit sales. ’ d) Sale of scrap, , 4) The main object of the audit of the cash book MAY be -----we-nenenen,, a) To verify the assets and liabilities,, , b) To know that all receipts and payments have been properly recorded,, ¢) To check the internal control system in business., | 4) To check the bank balance., , §) Consider the following activities, valuation, Verification, vouching., , a) 3,1,2. b) 3,2,1. C) 23,4000 d). 1,2,3.°., §) Audit reports OM PSU are wwwenienrenne, yy es shy Michiene, a) submitted to the president/governor for being laid before the parlia, b) Sent to concerned ministries/departments:, ¢) submitted to bod of concerned psu. ».”, Jo yam eed toby:, , ) submitted to pwd department., , ment, , 1) The statutory auditor of a Government Company submits his report to ——, , , 4) the BOD of the company. > sb) the C&AGs, ¢) the legislature, d) the company secretary, , 4) The auditor of a company not supposed to Issue qualified report when ———Ssonnee, anes, , adie, , ), , 4) goodwill worth Rs, 100000 built up when the company is not shown inthe balance, sheet, 2 : 7 riser MDT?, , oA tg, , a S0odwill is shown in the balance sheet although It has been totally lost.

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eens aaa, , c) balance sheet and profit and loss account show a true and correct View ory, company. affair and are drawn in conformity with law. h, , d) proper books of accounts as required by law have been refused accegg to8%, of these books, , 9) In case of audit of statutory report an auditor is expected to give his rep, , on the -------==-+---~ i, , a) Number of shares allotted, amount received in cash and summarized, Reog;, and payment account., , b) Authorized capital, subscribed capital and paid-up casi, , c) Profit and loss account, Balance sheet and Directors report., , d) Director qualification calls in arrears and calls in advance., , 10)A special auditor has to submit his report to the --------------- ., a) management b) state government., c) central government. - d) none of these., 11) Basic principles governing an audit are described in --------------a) AAS-1 b) AAS-5 c) AAS-18 d) AAS-6, 12)Standard Auditing Practice related by objective and scope of the Audit of |, Financial Statement is --------------- fi ; ;, a) AAS-1 i) b) AAS-2 c) AAS-3 d) AAS-4, , 13)Which of the following Auditing Standard is related with the auditors, responsibility to consider Fraud and Error in.an audit of Financial Statement, , a) BASS b) AAS-4-0° Ge) AAS-5 d) AAS-6, 14)When auditor has any doubt about the valuation of assets, he must disclose, this fact -------------... :, , a) To secretary, , ‘<b) To manager au, c) In his report, , d) None of the above, 15)Comptroller and Auditor General of India submits its audit report to -~, , a) President . b):-Prime Minister’. c)’ Finance Minister ay None of thes?, 16) Audit report'ls presented ta ----re---=-s-e- :, , @) Secretary b) Managers c) Registrar’ a) sharenelde®, 17)How many types of auditing reports are there? ee, a) 2 b) 31.0: c) 4: dpb.