Top 150+ Solved Practical Auditing MCQ Questions Answer
Q. Book debts should be verified with the help of
a. Balance sheet
b. Amount received from Debtors
c. Debtors schedule
d. Certificate from the management
Q. Investments in hand should be verified with the help of
a. Schedule of investments
b. Balance sheet
c. Inspection of securities
d. Certificate from the bank
Q. First auditor of a company is appointed by the
a. Shareholders
b. Central Govt.
c. Company Law Board
d. Board of Directors
Q. Which of the following persons is qualified to be a company auditor?
a. An employee of the company
b. A body corporate
c. A person who is indebted to the company for an amount exceeding Rs. 1000
d. A practicing chartered accountant
Q. The first auditor of a company will hold office
a. For a period of one year
b. Till holding of statutory meeting
c. Till the conclusion of first annual general meeting
d. Till a new auditor is appointed
Q. Normally, a company auditor is appointed by the
a. Central Government
b. Shareholders
c. Board of Directors
d. Company Law board
Q. An auditor in a casual vacancy is appointed by the
a. Board of Directors
b. Shareholders
c. Central Government
d. Company Law board
Q. If an auditor is not appointed at annual general meeting, he is appointed by the
a. The Central Government
b. Board of Directors
c. Shareholders
d. Company Law board
Q. A vacancy caused by resignation of the auditor is filled by
a. Board of Directors
b. At the general meeting of shareholders
c. By the Central Government
d. By the Company Law board
Q. A special auditor is appointed by the
a. Shareholders
b. Board of Directors
c. Central Government
d. C & A - G
Q. A government Co. auditor may be appointed by the
a. C & A – G
b. Shareholders
c. Central Government
d. None of the above
Q. A company auditor can be removed before expiry of his term by
a. Shareholders
b. Board of Directors
c. Central Government
d. State Government
Q. Remuneration of a company auditor is fixed by the
a. Shareholders
b. Board of Directors
c. Central Government
d. Appointing authority
Q. A company auditor, in general has to submit his report to
a. Shareholders
b. Board of Directors
c. Central Government
d. C & A – G
Q. An auditor of Government company has to submit his report to the
a. Shareholders
b. Central Government
c. C & A – G
d. Ministry concerned