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Auditing MCQs

Commerce Objective Questions

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232. Which among the following are NOT qualified to be appointed as auditor of a company?
(1) An individual who is a Chartered Accountant and holds a Certificate of Practice as per CA Act, 1949
(2) A limited liability partnership firm, which has all partners as Chartered Accountants
(3) Officer or employee of a company who is qualified Chartered Accountant degree holder too
(4) Any Chartered Accountant whose appointment will result in the person being the auditor of more than 10 companies
Choose the most appropriate option:
A. (1) and (2)
B. (2), (3) and (4)
C. (3) and (4)
D. (1), (2) and (4)
Discussion
233. The work of continuous auditor is
A. loose
B. medium
C. Sharp
D. Similar
Discussion
234. Vouching implies:
A. Inspection of receipts
B. Examination of vouchers to check authenticity of records
C. Surprise checking of accounting records
D. Examining the various assets
Discussion
235. Which report will be submitted by an auditor, if he is dissatisfied regarding the facts and informations?
A. Qualified report
B. Clean report
C. Management report
D. Cost report
Discussion
236. The auditor of a Government company is appointed by the C & AG. His remuneration is fixed by:
A. The C & AG
B. The shareholders
C. The shareholders at an annual general meeting
D. The board of directors
Discussion
237. Who can check the minute book?
A. Shareholder - without any fee
B. Debentureholder - on payment of fee
C. any person - on payment of fee
D. None of the above
Discussion
238. In case of sales return, the auditor should examine which documents?
A. Credit notes, advice notes and inward return notes
B. Debit notes, advice notes and inward return notes
C. Purchase invoices, advice notes and inward return notes
D. Credit notes, inspection report and inward return notes
Discussion

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