Which of the following is not the duty of a company auditor:
A. To make a report to the members of the company on the accounts examined by him
B. To enquire whether loans and advances made by the company on the basis of security have been properly secured
C. Where it is stated in the books of the company that shares have been allotted for cash, to enquire whether cash has actually been received in respect of such allotment
D. To physically verify the value of stock in hand at the close of the year
Answer: Option D
A. 2, 1, 3, 4, 5
B. 1, 2, 3, 4, 5
C. 5, 1, 4, 3, 2
D. 4, 1, 3, 2, 5
Auditing and accounting are concerned with which of the following financial statements?
A. Auditing uses the theory of evidence to verify the financial information made available by accountancy
B. Auditing lends credibility dimension and quality dimension to the financial statements prepared by the accountant
C. Auditor should have a thorough knowledge of accounting concepts and convention to enable opinion on financial statements
D. All of the above
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