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Auditing MCQ Questions and Solutions with Explanations | Commerce

Auditing MCQ Questions and answers with easy and logical explanations. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Auditing MCQ is important for exams like B.COM, M.COM, BBA, BBM, CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other commerce department exam. Page-3 section-4

Each section contains 100 MCQs on Auditing .
21
The verification of the authority and authenticity of transaction recorded in the books of accounts is called
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Answer & Solution
Answer: Option C
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22
Management audit is
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Answer: Option B
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23
Which of the following financial statements assertions are addressed by testing the cut off for plant asset addition?
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Answer: Option D
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24
Internal audit is done:
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Answer: Option B
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25
An enquiry regarding the value, ownership title, existence and possession of an asset is called
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Answer: Option C
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26
The client changed method of depreciation from straight line to written down value method. This has been disclosed as a note to the financial statements. It has an immaterial effect on the current financial statements. It is expected, however, that the change will have a significant effect on future periods. Which of the following option should the auditor express?
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Answer: Option A
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27
An auditor is held liable under C.A. Act 1949 for:
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Answer: Option C
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28
The comptroller and auditor general of India is appointed by the President of India
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Answer: Option C
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29
The principal auditor, as per clarification issued by the ICAI, does not have any right to:
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Answer: Option A
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30
Stock should be valued at:
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Answer & Solution
Answer: Option C
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