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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-7 section-1

Each section contains 100 MCQs on Auditing .
61
Verification refers to
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Answer & Solution
Answer: Option C
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62
. . . . . . . . is a systematic examination of the books and records or a business.
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Answer: Option A
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63
Which of the following pairs are correctly matched?
1. Test Checking ⇔ Random checking
2. Internal Check ⇔ A system of automatic checking
3. Internal Control ⇔ Includes internal check and internal audit
4. Investigation ⇔ General examination of all accounting records
Select the correct answer:
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Answer: Option D
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64
An auditor conducts a surprise check on the pay day (i.e.) the day wages and salaries are paid. The primary purpose of this audit procedure is:
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Answer: Option C
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65
Management audit is ordered by the
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Answer: Option C
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66
In case of sales return, the auditor should examine which documents?
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Answer: Option D
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67
Which of the following is/are the object(s) of cost audit for organisations?
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Answer: Option D
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68
A sale of Rs. 30,000 to A was entered as a sale to B. This is an example of
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Answer: Option B
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69
The verification of the value of assets, liabilities, balance of reserves, provision and the amount of profits earned or loss suffered is called . . . . . . . .
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Answer: Option A
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70
Match the following in the term of Assertions and Explanation:
List I (Assertions) List II (Explanations)
a. Cut-off 1. Assets and liabilities exist
b. Classification 2. Transactions and events have been recorded in proper accounts
c. Occurrence 3. Transactions and events have been recorded in the correct accounting period
d. Existence 4. Transactions and events that have been recorded, have occurred and pertain to the entity
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Answer: Option B
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