Top 150+ Solved Practical Auditing MCQ Questions Answer
Q. The maximum number of audit assignment an auditor can accept is limited to -------------- companies
a. 10
b. 15
c. 20
d. none
Q. Auditors can be appointed by -------------- when the shareholders fail to appoint auditors at thegeneral meeting
a. Board of directors
b. Central government
c. Company Low board
d. none
Q. The examinations of financial transactions with supporting evidences is called
a. Verification
b. Vouching
c. Auditing
d. none
Q. Which among the following is an example of intangible asset?
a. Goodwill
b. Patents
c. All of these
d. none
Q. Which of the following is not an item current asset?
a. Stock
b. Sundry debtors
c. Furniture
d. none
Q. --------------- audit is more suitable for small business houses
a. Continuous
b. Annual
c. Partial
d. none
Q. Vouching is an examination of ----------- to ascertain the accuracy and authenticity of transactions inthe book of accounts
a. Audit files
b. Audit note book
c. Documents
d. none
Q. --------------- is a written plan containing details with regard to the conduct of a particular audit
a. Audit Note book
b. Audit programme
c. Audit files
d. none
Q. --------------- is the verification of books of accounts from Income tax point of view
a. Cost audit
b. Tax audit
c. Management audit
d. none
Q. Investigation is required when
a. Fraud is suspected in business
b. On acquisition of running business
c. All of them
d. none
Q. Which among the following is not a right of company auditors
a. Right to access the book accounts
b. Right to seek explanations
c. Right to lies on books of accounts
d. none
Q. Test checking is done when there is an effective system of --------------
a. Internal control
b. Internal audit
c. Internal check
d. none