Auditing
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Auditing questions with answers

116 multiple-choice questions. Open any question for its answer and explanation.

  1. . . . . . . . . is a systematic examination of the books and records or a business.
  2. 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:
  3. Management audit is ordered by the
  4. In case of sales return, the auditor should examine which documents?
  5. Which of the following is/are the object(s) of cost audit for organisations?
  6. A sale of Rs. 30,000 to A was entered as a sale to B. This is an example of
  7. The verification of the value of assets, liabilities, balance of reserves, provision and the amount of profits earned or loss suffered is called . . . . . . . .
  8. Match the following in the term of Assertions and Explanation: List I (Assertions) List II (Explanations) a. Cut-off 1. Assets and liabilities exist b. Classification 2. Transactions and events have been recorded in proper accounts c. Occurrence 3. Transactions and events have been recorded in the correct accounting period d. Existence 4. Transactions and events that have been recorded, have occurred and pertain to the entity
  9. An internal auditor is appointed by
  10. Which of the following best describes the primary purpose of audit programme preparation?
  11. Which of the following is not a function of an auditor
  12. The approach of management auditor should be
  13. Which of the following is not true about opinion on financial statements?
  14. The sequence of steps in the auditor's consideration of internal control is as follows:
  15. Auditors accumulate evidence to
  16. Statement I: Energy audit is an indepth check of the amount of energy being utilised. Statement II: Energy audit includes general and preliminary audit.
  17. Auditor is not a valuer', was stated in:
  18. Which of the following statements is not true?
  19. The management auditors work begins
  20. Checking the head of account debited or credited during vouching helps the auditor to
  21. If auditor does not find any irregularity or fallacy and about which there are no complaint, then which report will be submitted by auditor?
  22. Internal audit means
  23. The practical aspects of management audit is/are
  24. Statement I: The scope of valuation is wider than verification. Statement II: Valuation is done after vouching but before verification.
  25. Valuation is the base of