B.Com 3rd Year Auditing Online Test

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Auditing Chapter 4th = Internal Check

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Internal Check

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1 / 39

39. Entry of received credit note is made in the –

Sales Return Book

Purchase Return Book

Goods Outward Book

None of these

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38. Which of the following wage method is suitable for accounting?

Wages register

Wages schedule

Wages card

None of these

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37. Internal Audit means –

Maintaining accountability of assets

Execution of transaction according to management’s general or specific authorisation

A review of operation and record on continuous basis and is undertaken within the enterprise by separate staff

None of these

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36. An Internal Auditor is –

Temporary employee

Permanent employee

Daily wager

None of these

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35. For which of the following Internal check is most suitable –

Big institutions

Small institutions

Both (a) and (b)

None of these

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34. Which of the following is based on the principle of division of labour –

Internal control

Internal checking

Internal audit

None of these

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33. Internal control includes –

Financial control

Non-financial control

Both (a) and (b)

None of these

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32. Internal control includes –

Internal check

Internal audit

Interim audit

Both (a) and (b)

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31. Internal auditor is responsible for –

Shareholders

Management

Government

Creditors

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30. In which of the following detailed checking is done –

Internal audit

Interim audit

Final audit

All of these

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29. Which of the following is a broader term?

Internal control

Internal check

Internal audit

None of these

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28. Internal control is a broader term, generally used to encompass both internal check and internal audit”. This is defined by –

H. Stateler

Spicer and Pegler

Dicksee

D. Paula

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27. “Internal check is a method of organising the entire operation of office, factory, warehouse and the duties of the respective staff so that fraud and irregularities are impossible without collusion.” This is defined by –

De Paula

Joseph Lancaster

Dicksee

None of these

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26. Internal audit is done by –

Salaried employees of business concern

Outsider person

Chartered accountant

None of these

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25. For big concerns internal check system is –

Expensive

Economie

Not appropriate

None of these

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24, Internal check starts –

Simultaneously transactions

After preparing accounts

At the end of the year

None of these

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23. Internal check includes –

Make entries

Verification

Both posting and verification

None of above

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22. Internal check system makes the auditor’s work –

Easy

Complicated

In short time

Both (a) and (c)

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21. “Internal check may be defined as such arrangement of Book-keeping routine that errors and frauds are likely to be prevented or discovered by the very operation the Book-keeping itself. This is defined by –

Spicer and Pegler

De Paula

Dicksee

None of these

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20. Which of the following is a feature of an efficient Internal Check System?

Clear-cut demarcation of authorities and

Changes in the work of employees

An arrangement of staff duties whereby no one person is allowed to carry thorough and to record every aspect of the transaction

All above

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19. Main object of Internal check is –

Detecting errors and frauds

Checking

Verifying

Division of work among employees

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18. Meaning of Internal Audit is –

A system of internal check

Routine checking by Auditor

Audit by management

Initial audit by Auditor

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17. Internal audit is a –

Part of internal control

Broader than internal check

Same as internal control

Does not related with internal control

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16. Internal audit proves helpful in –

Preventing errors and frauds

Statutory audit

Intensive audit

Internal check

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15. Internal auditing can best be described as –

An accounting function

A line management function

A function which improved the credibility of financial statement

An internal control function

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14. In comparison to the independent auditor, an internal auditor is more likely to be concerned with –

Cost accounting system

Internal control system

Legal compliance

Accounting system

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13. The object of internal audit is –

To prevent errors and frauds

To detect errors and frauds

To improve financial control

All of the above

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12. Internal check refers to –

Checking of records by the cashier

Checking of accounts by the internal auditor

Checking of work of one person by another automatically

Managerial control internally over the subordinates

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11. Who will be responsible for errors in report if external auditor relies on the work of internal auditor –

External Auditor

Internal auditor

Management

Shareholders

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10. Who appoint Internal Auditor?

Management

Shareholders

Government

Stock Exchange.

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9. Internal audit of a business concern is –

Employees of the organisation

Registered auditors

Elected persons among members of management

Representative of directors

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8. Internal checking is –

Synonymous of Internal Audit

Work of one auditor is checked by other senior auditor

A system where work of one employee is checked automatically by other employee

None of these done by

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7. The scope of work of Internal Audit is decided by the –

Shareholders

Management

Government

Law

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6. An internal auditor is –

Outsider person

Insider person

Outsider and insider person both

None of these

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5. The process of distribution of work among employees according to their ability is known as –

Internal audit

Internal control

Internal check

None of these

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4. Which of the following is based on the principle of division of work?

Internal control

Internal checking

Internal audit

None of these

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3. Object of internal check is –

Early detection of frauds

To enchance efficiency of employees

To put moral pressure on employees

All the above

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2. Internal check is important for –

Smali organisation

Big organisation

Small and big both organisations

None of these

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1. Under the Internal Check System –

Responsibilities of employees are determined

Work of an employees is checked automatically by other employee

Division of work among employees

All above

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B.Com 3rd Year Auditing Online Test

Auditing Chapter 4th = Internal Check

Internal Check

Please Give Your Information

For start the Quiz

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