B.Com 3rd Year Auditing Online Test Content in The Article Toggle Auditing Chapter 1st = Auditing Meaning, Objective and ImportancePlease Give Your InformationFor start the QuizAuditing Chapter 2nd = Classification of AuditPlease Give Your InformationFor start the QuizAuditing Chapter 3rd = Audit ProcessPlease Give Your InformationFor start the QuizAuditing Chapter 4th = Internal CheckInternal CheckPlease Give Your InformationFor start the QuizAuditing Chapter 5th = VouchingVouchingPlease Give Your InformationFor start the QuizAuditing Chapter 6th = Verification and Valuation of Assets and LiabilitiesVerification and Valuation of Assets and LiabilitiesPlease Give Your InformationFor start the QuizAuditing Chapter 7th = Depreciation and ReservePlease Give Your InformationFor start the QuizAuditing Chapter 8th = Company AuditPlease Give Your InformationFor start the QuizAuditing Chapter 9th = Appointment, Remuneration, Rights and Duties of an AuditorPlease Give Your InformationFor start the QuizAuditing Chapter 10th = Liabilities of AuditorPlease Give Your InformationFor start the QuizAuditing Chapter 11th = Divisible Profit and DividendPlease Give Your InformationFor start the QuizAuditing Chapter 12th = Audit ReportPlease Give Your InformationFor start the QuizAuditing Chapter 13th = InvestigationInvestigationPlease Give Your InformationFor start the QuizAuditing Chapter 14th = Special AuditSpecial AuditPlease Give Your InformationFor start the Quiz Auditing Chapter 3rd = Audit Process /39 77 This Quiz Time only 2 hours Your Time is Finish 2 hours Thanks for Giving This Test. All Question Audit Process Audit Process Please Give Your Information For start the Quiz NameEmailPhone Number 1 / 39 39. Test checking should not be applied to – Purchase book Sales book Stock book Cash book 2 / 39 38. Which of the following is not a part of the process of auditing – Preparation of Balance Sheet and profit and loss account Examination of vouchers supporting various entries in the books of account Discussion of officers and staff of the enterprise to certain explanations Preparation of Audit Report 3 / 39 37. Which of the following Auditing Standard is related with Audit Materiality – AAS-12 AAS-4 AAS-13 AAS-15 4 / 39 36. Materiality is a – Relative term Absolute term Important term None of these 5 / 39 35. Permanent file contains the abstract of – Regulations related to the organisation of institution Agreements related to long-term liabilities Description of the system of internal control Both above (a) and (c) 6 / 39 34. Under over all checking – All books of accounts are examined All methods of checking are used None of these Both (a) and (b) 7 / 39 33. Under Intensive checking – All books of accounts are examined Specific books of accounts are examined None of these Both (a) and (b) 8 / 39 32. Test checking reduces the – Auditor’s work Auditor’s responsibility Auditor’s work and None of these 9 / 39 31. Routine checking discovers – Clerical errors and ordinary frauds Planned frauds Casting, sub-casting and carry forward None of the above 10 / 39 30. Audit note book is a – Audit planning Audit programming Audit diary to record auditor’s observations Checking of arithmetical accuracy of accounting records 11 / 39 29. Test checking is done to – Find out errors Detect frauds Save time None of these 12 / 39 28. In a big organisation where number of transactions are numerous, auditor check – All transactions Some transaction selected as sample All transactions of some months Some transactions of each month 13 / 39 27. Test checking refers to – Testing of accounting records Testing of honesty of employees Intensive checking of a selected number of transactions Checking of all transactions recorded 14 / 39 26. If there arise loss to employer due to adopting test checking, then auditor is………. for loss. Liable Not liable Negligence None of the above 15 / 39 25. Test checking……….. the responsibility of auditor – Increases Decreases No effect None of these 16 / 39 24. Test checking is appropriate – Large business concerns Huge number of transactions When internal check system is satisfactory All above 17 / 39 23. Test checking is beneficial when – Number of business transactions is less Internal check system is satisfactory Internal check system is unsatisfactory None of these 18 / 39 22. Test checking means – Detailed checking of some transactions/items Checking of each item Checking of sample transactions/items None of these 19 / 39 21. Routine checking is done by – Employees of the concern Auditors Management All of these 20 / 39 20. By Routine checking – Expenses of business increase Expenses of business decrease Business expenses remain unaffected None of these 21 / 39 19. Main objective of Routine checking is – To check mathematical accuracy of the entries of elementary books and accounts To check the follow-up of accounting principles To find the altered figures All above 22 / 39 18. Which of the following work perview in routing checking? Checking of elementary books Rectification of errors Checking of posting All of these 23 / 39 17. Which is the advantage of Audit Note Book – Make auditor free from memorising the facts Helpful in audit work Evidence in the court of law All above 24 / 39 16. Which of the following case is related with ownership working papers – Ipswich Mills vs. Dillon, 1927 Kingston Cotton Mills London and General Bank Mackson and Robbins 25 / 39 15. For which of the following purpose, auditor keeps working papers – To use them as reference As a proof of his work For future guidance All of these 26 / 39 14. Audit working papers are the property of – Owner of the business Auditor Managers None of these 27 / 39 13. The auditor obtains the working papers – In the course of the audit Before starting audit After completing audit None of these 28 / 39 12. Audit note book contains – Dates of reference Detail of work done List of unobtained and incomplete vouchers All above 29 / 39 11. Use of working papers are necessary as it is – A statutory requirement Helps to inspect the work of assistants Essential for the owner of the concern Beneficial for auditor 30 / 39 10. Audit programme should – Rigid Mechanised Rigid and mechanized Elastic 31 / 39 9. In audit programme, audit work planning is done by – Accounts staff Audit staff Board of Directors Managing director 32 / 39 8. An audit programme is chalked out for the following purpose For incoming and outgoing of auditor For routine checking For outlining the whole procedure of audit For inspection of branches of company 33 / 39 7. Audit programme should be – Written Verbal Brief None of these 34 / 39 6. Before the audit of a new institution – Scope is determined Nature of the institution is studied Methods of accounting are studied All of the above 35 / 39 5. Which of the following is disadvantage of audit programme? Mechanised work Lack of independent decisions Not reflect inefficiencies All above 36 / 39 4. Which of the following is a merit of audit programme? Division of work according to capability Fixed responsibilities Clear-cut instructions All of these 37 / 39 3. An audit programme must be – Flexible Detailed Clear-cut All of these 38 / 39 2. Which is the essential quality of an audit programme – Division in Fixing responsibilities Review Flexibility 39 / 39 1. , “An audit programme is flexibly planned procedure of examination”, this is defined by – Kohlar Arthur W. Holmes W.W. Bigg None of above Your score is LinkedIn Facebook Twitter VKontakte 0% Restart quiz Please Give Your Review Send feedback Pages: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15