Auditing MCQ Questions and Solutions with Explanations

Home

Competitive Exams MCQs

Aptitude English Verbal Reasoning Non Verbal Reasoning General Knowledge(GK) General Science(GS) Data Interpretation(DI) Banking Awareness Current Affairs

Computer Fundatmental MCQs

Computer Fundamentals Microsoft Word Microsoft Excel MS Power Point Tally Operating System Python AI(Artificial Intelligence)

Engineering Subjects MCQs

Computer Science Electronics & Communication Mechanical Engineering Civil Engineering Electrical Engineering

More Engineering MCQs

Chemical Engineering Automobile Engineering Biotechnology Mining Engineering Geological Engineering Metallurgical Engineering

Engineering Core

Engineering Mathematics Engineering Physics Engineering Chemistry

Computer Fundamentals MCQs

Computer Fundamentals Microsoft Word Microsoft Excel MS Power Point Tally Operating System Networking Database SQL MySQL

Programming MCQs

C Programming C++ Programming Java Python PHP JavaScript

Advanced Programming MCQs

Artificial Intelligence Machine Learning Data Science Cloud Computing Hadoop IoT

Graduation & PG

Commerce Management Law Agriculture Sociology Psychology Home Science Mass Communication Political Science Psychology

Resources

Current Affairs Interview Blog

Exam Categories

SSC Exams Railway Exams All Exams

SSC Exams

SSC CGL SSC CHSL SSC MTS SSC CPO SSC GD SSC JHT SSC Selection Post SSC Stenographer SSC JE

Railway Exams

RRB ALP RRB Technician RRB Section Controller RRB JE RRB Paramedical RRB Group D

Popular Exams

SSC CGL SSC CHSL SSC MTS RRB NTPC (Graduate) RRB Group D RRB ALP RRB Technician RRB Section Controller

Each section contains 100 MCQs on Auditing .

Normally a company auditor is appointed by:

A) Central government B) Shareholders C) Board of directors D) Company law board E) Creditors

Discuss

Answer & Solution

Answer: Option B

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

Which of the following is the function of an auditor?

A) To check the mathematical correctness of the account B) Finding and preventing errors C) Finding and preventing deficiencies D) All of the above

Discuss

Answer & Solution

Answer: Option D

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

Test checking reduces-

A) Responsibility of an auditor B) Rights of an auditor C) Expenses of an auditor D) Work of an auditor

Discuss

Answer & Solution

Answer: Option D

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

Verification of the value of assets, liabilities, the balance of reserves, provision and the amount of profit earned or loss suffered a firm is called . . . . . . . .

A) continuous audit B) balance sheet audit C) interim audit D) partial audit

Discuss

Answer & Solution

Answer: Option B

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

Which of the following controls would ensure that securities are not lost, stolen or diverted?

A) Establish physical barriers over investment securities B) Maintain files of authorized signatures C) Segregate investment approval from accounting and from custody of securities D) All of the above

Discuss

Answer & Solution

Answer: Option D

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

Voucher relates to . . . . . . . .

A) Cash receipt & payments, credit transactions B) Cash payment only C) Credit transactions only D) Cash receipt only

Discuss

Answer & Solution

Answer: Option A

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

Control risk is assessed at:

A) Overall financial statements level B) Fraud risk factor level C) Financial statement assertion level D) Control environment level

Discuss

Answer & Solution

Answer: Option C

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

For what minimum period should audit working papers be retained by audit firm?

A) For the time period the entity remains a client of the audit firm B) For a period of ten years C) For a period auditor opines them to be useful in servicing the client D) For the period the audit firm is in existence

Discuss

Answer & Solution

Answer: Option C

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

Company auditing was first made compulsory in India, in

A) 1894 B) 1913 C) 1949 D) 1956

Discuss

Answer & Solution

Answer: Option B

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

The auditor's report alongwith the annual accounts is given

A) Statutory auditor B) Internal auditor C) Government auditor D) Secreterial auditor

Discuss

Answer & Solution

Answer: Option A

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

1 2 3 4 5 6 7 8 9 10

Auditing MCQ Questions and Solutions with Explanations | Commerce