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Auditing

Auditing

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Q1. What is the systematic scrutinization of books and records of a business called?
1. Checking
2. Verification
3. Vouching
4. Auditing
Q2. Which audit is compulsory under a statue?
1. Statutory audit
2. Partial audit
3. Continuous audit
4. Complete audit
Q3. What are the liabilities of an auditor?
1. Civil
2. Official
3. Criminal
4. Civil and criminal
Q4. Audit is not mandatory for one of the following options:
1. Trusts
2. All of the above
3. Proprietorship matters
4. Joint stock firms
Q5. Who appoints the internal audit?
1. Management team
2. The government
3. Shareholders
4. Statutory body
Q6. When the auditor plans the complete audit work, it is ca
1. Audit note
2. Audit plan
3. Audit programme
4. Audit risk
Q7. Which audit is conducted in between 2 annual audit?
1. Interim audit
2. Continuous audit
3. Internal audit
4. Final audit
Q8. When do the board of directors appoint their first company audito
1. In a period of a month after the capital subscription state of the firm
2. Within a period of a month of the business commencement of the company
3. In a period of a month after the company promotion.
4. Within a period of a month of the incorporation of the compan
Q9. What is a voucher related to?
1. All of the above
2. Credit transactions
3. Receipts
4. Cash payment
Q10. At what point does auditing begin?
1. When selling ends
2. When inventory evaluation ends
3. When purchases end
4. When accounting ends

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Financial Accounting using Tally

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