61. Verification refers to
62. . . . . . . . . is a systematic examination of the books and records or a business.
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:
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:
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:
65. Management audit is ordered by the
66. In case of sales return, the auditor should examine which documents?
67. Which of the following is/are the object(s) of cost audit for organisations?
68. A sale of Rs. 30,000 to A was entered as a sale to B. This is an example of
69. The verification of the value of assets, liabilities, balance of reserves, provision and the amount of profits earned or loss suffered is called . . . . . . . .
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
| 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 |
Read More Section(Auditing)
Each Section contains maximum 100 MCQs question on Auditing. To get more questions visit other sections.