AUDITING AND ASSURANCE Multiple Choice Questions With Answers
1. Which of the following is not a kind of audit?
A. Statutory and private.
B. Government and continuous audit.
C. Interim audit.
D. None of these
2. This kind of audit is conducted generally between two annual audits.
A. Internal audit.
B. Interim audit.
C. Final audit.
D. Continuous audit.
3. Voucher relates to ______.
A. Cash receipt.
B. Cash payment.
C. Credit transactions
D. All of the above.
4. Auditing begins where _____ends.
A. Selling.
B. Inventory valuation.
C. Accounting.
D. Purchases.
5. In the case of a company in which not less than _______% of the subscribed share
capital is held whether singly or in combination by certain special institutions and
bodies, the appointment or re-appointment of auditors shall be made at each annual
general meeting by a special resolution.
a. 25%
b. 30%
c. 20%
d. 15%
6. Which of the following persons is qualified to be a company auditor?
a) An employee of the company
b) A body corporate
c) A person who is indebted to the company for an amount exceeding Rs. 1000
d) A practicing-chartered accountant
7. When the auditor is an employee of the organization being audited, the audit is
classified as _____
a. Internal
b. External
c. Compliance
d. Both A&B
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