Auditing Corporate Governance MCQs and Notes

M

Mr. Dubey • 52.30K Points
Coach

Q 51. Cost audit is a verification of cost records to estimate the ________ efficiency of a business.

(A) External

(B) Internal

(C) Both internal and external

(D) None of the above

M

Mr. Dubey • 52.30K Points
Coach

Q 52. Who among the following can conduct tax audit?

(A) Practicing Chartered Accountant

(B) A Chartered Accountant who has written the books of assessee

(C) Employee of the assessee

(D) Internal auditor

M

Mr. Dubey • 52.30K Points
Coach

Q 53. Who among the following can be appointed as cost auditor of a company?

(A) Chartered Accountant

(B) Cost Accountant within the meaning of Cost and Works Accountants Act, 1959

(C) An officer or employee of the company

(D) Auditor of the company

M

Mr. Dubey • 52.30K Points
Coach

Q 54. Tax audit comprises of

(A) Compulsory Tax Audit

(B) Tax Audit for claiming deductions and exemptions

(C) Selective Tax Audit

(D) All of the above

M

Mr. Dubey • 52.30K Points
Coach

Q 55. The process of collecting and evaluating evidence to determine whether a computer system safeguards assets, maintains data integrity, achieves organizational goals effectively, and consumes resources efficiently.

(A) Electronic data processing

(B) Electronic Domain Process

(C) Environment Development process

(D) None of the above

M

Mr. Dubey • 52.30K Points
Coach

Q 56. Black box Approach is an approach which is also known as

(A) Auditing around the computer

(B) Auditing through the computer

(C) Auditing above the computer

(D) Auditing under the computer

M

Mr. Dubey • 52.30K Points
Coach

Q 57. The full form of CAAT

(A) Computer Assisted Audit Techniques

(B) Computer Assistance Alternate Techniques

(C) Computer Audit Assistance Technique

(D) Customer Assisted Audit Technique

M

Mr. Dubey • 52.30K Points
Coach

Q 58. Which of the following is not audit software?

(A) Generalized Audit Software

(B) Specialized Audit Software

(C) Utility Software

(D) Micro Software

M

Mr. Dubey • 52.30K Points
Coach

Q 59. The audit fees and expenses incidental to audit shall be determined by

(A) The Chief Commissioner

(B) The State Government

(C) The Central Government

(D) None

M

Mr. Dubey • 52.30K Points
Coach

Q 60. The management auditor may be appointed by

(A) Shareholders

(B) Board of directors

(C) Shareholders or board of directors

(D) None of the above