Top 150+ Solved Auditing Corporate Governance MCQ Questions Answer
Q. Transactions entered in the computer as they occur and processed simultaneously in the processing capabilities of accounting system is
a. Batch processing system
b. Real-time processing system
c. Distributed Data processing
d. None of the above
Q. Selecting and printing audit samples, comparing data on separate files, comparing audit data with clients records
a. Functions of Generalized Audit Software
b. Integrated Test Data Approach
c. Test Data Approach
d. All of the above
Q. Compliance with standard of Auditing is the responsibility of
a. Management
b. Those charged with governance
c. Auditor
d. Audit committee
Q. The ------- can be removed after the expiry of his term of office,as per the procedures laid down in section 225.
a. BOD
b. Clerk
c. Auditor
d. Shareholders.
Q. An appointed auditor may be removed from his office either in accordance with the provisions and as per restrictions imposed by the
a. Companies Act
b. Chartered Accountants Act
c. Both (a) and (b)
d. None of the above.
Q. Cost audit is the verification of the correctness of cost accounts and adherence to the cost accounting plan. This concept is given by
a. Institute Of Chartered Accountant Of India
b. Institute Of Chartered Accountant Of London
c. Institute Of Cost and Works Accountants of India
d. Institute Of Cost and Works Accountants of London.
Q. Cost audit helps in settlement of trade disputes. This is the advantage for
a. Government
b. Management
c. Society
d. Shareholders .
Q. The audit of financial records to ascertain the correctness of taxable profits means
a. Tax audit
b. Management audit
c. Profit audit
d. Financial audit .
Q. According to section 44AB,Tax Audit is to be conducted by an
a. Internal auditor
b. Chartered Accountant
c. Accountant
d. None of the above .
Q. Future oriented, independent and systematic evaluation of the activities of all levels of management for the purpose of improving organizational profitability and increasing the attainment of other organizational objectives is known as
a. Cost audit
b. Tax audit
c. Management audit
d. Human resources audit .
Q. Objective of management audit are
a. To evaluate the performance by relating inputs with output
b. To obtain efficiency and effectiveness of management
c. Only (b)
d. (a) and (b).
Q. The corporate governance structure of a company reflects the individual companies is
a. Cultural and economic system
b. Legal and business system
c. Social and regulatory system
d. All of the above
Q. The corporate governance framework consists of explicit and implicit contracts between
a. Company and the stakeholders
b. Management and State government
c. Stakeholders and Management
d. None of the above