NET, IAS, State-SET (KSET, WBSET, MPSET, etc.), GATE, CUET, Olympiads etc.: Commerce MCQs (Practice_Test 31 of 99)
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- Which one of the following is not a specific duty of an Internal Auditor?
- Examination of organizational structure
- Assessment of plans and targets
- Testing the adequacy of internal, control system
- Carrying out investigations, suo moto
- What do Testing and Test checking in relation to auditing mean?
- To select and examine a representative sample from a large number of similar items
- To select and examine total universe from a large number of similar items
- To select and examine a representative sample even when discrepancies are found
- To select and examine a representative small item from among a small universe
- Match List I (System) with List II (Event) and select the correct answer using the codes given below:
Table Supporting: NET, IAS, State-SET (KSET, WBSET, MPSET, Etc.) , GATE, CUET, Olympiads Etc. : Commerce MCQs (Practice_Test 31 of 99) List-I List-II - Procedural Test
- Stratified Random Sampling
- Substantive Test
- Depth Test
- Population is divided into two or more than two groups
- Verification of procedures and their implementation
- Tracing through the system all aspects of a transaction
- Obtaining an evidence as to the completeness and accuracy of data
- A
- B
- C
- D
- 2
- 1
- 4
- 3
- 4
- 3
- 2
- 1
- 2
- 3
- 4
- 1
- 4
- 1
- 2
- 3
- While evaluating the internal control system which one of the following stages is not required?
- Ascertaining the system
- Evaluating the system
- Formulating the internal control schemes
- Formulating the inter control questionnaire
- Match List I (Function) with List II (Type) and select the correct answer using the codes given below:
Table Supporting: NET, IAS, State-SET (KSET, WBSET, MPSET, Etc.) , GATE, CUET, Olympiads Etc. : Commerce MCQs (Practice_Test 31 of 99) List-I List-II - Audit work is carried on almost simultaneously with the recording of transactions
- Auditor starts his work when the final accounts have been prepared
- Audit conducted in between two annual audits
- Some of the books and records of the whole period or specific period are audited
- Balance Sheet Audit
- Continuous Audit
- Interim Audit
- Partial Audit
- A
- B
- C
- D
- 2
- 1
- 3
- 4
- 4
- 1
- 3
- 2
- 2
- 3
- 1
- 4
- 4
- 3
- 1
- 2
- While auditing, the auditor finds a balance of ₹ 10,000 in Goodwill account and ascertains that the amount has not been written off for a long period. What may be the course of action for the auditor?
- He may advise the concern to write off the goodwill
- He may insist the: Concern to write off the goodwill in the same year
- He may recommend the concern to write off goodwill over a period of 5 years
- He may allow goodwill to appear forever
- What does third party confirmation in auditing mean?
- Confirmation of balances of sundry debtors or creditors
- Confirmation of bank balances
- Confirmation of contingent Liabilities
- Confirmation of security deposits
- Working papers should not record
- The audit plan
- The nature, timing and extent of audit procedures performed
- The conclusions drawn from the evidence obtained
- The audit programmes
- Which one of the following is not the primary purpose of audit working papers?
- Basis for planning an audit
- Record of the evidence accumulated and results of the tests
- Basis for preparing tax return and filings with SEBI
- Data for determining the proper type of audit report
- Audit notebook is a
- Personal notebook of an auditor
- Record of work performed by an auditor
- Record of important points and enquiries which an auditor has to refer to his clients
- Record of mistakes and errors detected during the course of auditing accounts books
- A file which contains rules governing the organization under audit is known as
- Current file
- Permanent file
- Routine file
- Precedence file
- Which one of the following statements is correct? Civil liability of an auditor implies liability for
- misappropriation of cash
- misappropriation of goods
- fraud
- misfeasance
- Any organization that employs a multiple command structure but also related support. Mechanisms and an associated Organizational culture and behaviour pattern, is known as
- Project organization
- Tall structure
- Matrix organization
- Flat structure
- A process of combining a series of tasks into a new, broader job that provides the worker with greater work variety and a greater sense of responsibility is known as
- Job enlargement
- Job enrichment
- Job analysis
- Job simplification
- The strategic approach to total compensation involved splitting the total compensation. Into three parts as under
- Variable pay
- Indirect pay
- Base pay
- Which of the above components is/are linked to the organization՚s success?
- Select the correct answer using the codes given below:
- 1 only
- 1 and 2
- 1,2 and 3
- 2 and 3
- Select the correct answer using the codes given below: