Auditing MCQs

Commerce Objective Questions

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484. . . . . . . . . means "proving the truth or confirmation".

B. Verification

485. Internal check is done for

A. Helping audit in depth

B. Prevention of frauds

C. Detection of frauds

D. None of these

486. The date on auditor's report should not be

A. The data of AGM

B. Later than the date on which the accounts are approved in board's meeting

C. Earlier than the date on which the accounts are approved by the management

D. Both A and B

487. Under which Section of Companies Act. The remuneration of the Auditor has been discussed?

A. Section 224 (2)

B. Section 224 (8)

488. Which one of the following is not an objective of auditing?

A. Detection of errors

B. Verification of accounts

C. Punishment of frauds

D. Preventions of frauds

489. An auditor conducts a surprise check on the pay day, i.e., the day wages and salaries are paid. The primary purpose of this audit procedure is to

A. Ensure there are no ghost workers

B. Ensure the casual workers employed are authorized by the supervisor

C. Test procedures for distributing paycheques

D. Obtain an understanding of the internal control system

490. The liability of the auditor can be

B. Only criminal

C. Either civil or criminal

D. Civil or criminal

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