Auditing MCQ Questions and Solutions with Explanations

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Each section contains 100 MCQs on Auditing .

Cost audit report is to be furnished to:

A) The company B) The central government with a copy to company C) The central government D) The company secretary

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

In case of unclaimed wages, the auditor should examine whether:

A) The amount has been deposited in a separate bank account B) Deposited with the cashier C) Held in a safe deposit box D) All of these

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

Which of the following Schedule of the Companies Act, 2013 deals with depreciations?

A) Schedule II B) Schedule V C) Schedule XIII D) Schedule X

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

The authority to remove the first auditor before the expiry of term is with:

A) The shareholders in a general meeting B) The shareholders in the first annual general meeting C) The board of directors D) The Central Government

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

While verifying intangible assets, an auditor would recomputed amortization charges and determines whether amortization period is reasonable. The auditor tries to establish . . . . . . . . by doing it

A) Valuation B) Existence C) Disclosure D) Possession

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

Internal control includes

A) Economic control B) Economic and non-economic control C) Economic, non-economic control and administrative control D) None of these

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

Window dressing implies:

A) Curtailment of expenses B) Checking of wastages C) Under valuation of assets D) Over valuation of assets

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

Internal check is a part of:

A) Internal audit B) Internal control C) Annual audit D) Standard audit

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

Management Audit includes

A) Efficiency and performance audit B) Propriety audit C) Both A and B D) None of the above

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

Institute of Chartered Accountants of India was established:

A) 1956 B) 1949 C) 1958 D) 1948

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

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Auditing MCQ Questions and Solutions with Explanations | Commerce