Lapping is also known as: (A) Teeming and lading (B) Embezzlement (C) Looping (D) Hacking 0 Auditing MCQs Author: sinxoo Report : If answer is wrong. May 14, 2022
The title of AAS2 issued by Council of ICAI is ___ (A) Objective and Scope of the Financial Statements (B) Objective and Scope of the Audit of Financial Statements (C) Objective and Scope of Business of an Entity (D) Objective and Scope of Financial Statements Audit 0 Auditing MCQs Author: sinxoo Report : If answer is wrong. May 14, 2022
Concealment of shortage by delaying the recording of cash receipts is known as (A) Embezzlement (B) Misappropriation (C) Lapping (D) None of these 0 Auditing MCQs Author: sinxoo Report : If answer is wrong. May 14, 2022
The main object of an audit is ___ (A) Expression of expert opinion (B) Detection and Prevention of fraud and error (C) Both (a) and (b) (D) Depends on the type of audit. 0 Auditing MCQs Author: sinxoo Report : If answer is wrong. May 14, 2022
Auditing is compulsory for (A) Small scale business (B) Partnership firms (C) Joint stock Companies (D) Proprietary Concerns 0 Auditing MCQs Author: sinxoo Report : If answer is wrong. May 14, 2022
Process of verifying the documentary evidences of transactions are known as: (A) Auditing (B) Testing (C) Vouching (D) Verification 0 Auditing MCQs Author: sinxoo Report : If answer is wrong. May 14, 2022
The term ‘Audit’ is derived from a Latin word “audire” which means; (A) To inspect (B) To examine (C) To hear (D) To investigate 0 Auditing MCQs Author: sinxoo Report : If answer is wrong. May 14, 2022
An auditor is like a (A) Blood haunt (B) Watch dog (C) May both according to situation (D) None of these 0 Auditing MCQs Author: sinxoo Report : If answer is wrong. May 14, 2022
If a material financial fraud is detected, Auditor should ________________ (A) report it to police (B) report it to the institute of ca of India (C) ignore it (D) report it to the owners or shareholders 0 Auditing MCQs Author: sinxoo Report : If answer is wrong. May 14, 2022
Closing stock with the consignee is to be shown as the Asset of ________________ (A) consignee (B) customer (C) all the above (D) consignor 0 Auditing MCQs Author: sinxoo Report : If answer is wrong. May 14, 2022
