Which of the following statement(s) is/are true?
1. Audit can be done by any person.
2. Auditing is guarantee of 100% correctness.
3. Errors can be detected and prevented from auditing.
4. Auditing is the examination of books and statements.
A. Both 1 and 2
B. Both 2 and 3
C. Both 3 and 4
D. 1, 2 and 4
Answer: Option C
Related Questions on Auditing
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
In how many days from the registration, the first Auditor of the Company be appointed?
A. 10
B. 20
C. 30
D. 60
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