Auditing Corporate Governance MCQs and Notes

M

Mr. Dubey • 52.58K Points
Coach

Q 81. Auditor should be dutiful like

(A) A watch dog
(B) a blood hound
(C) A detective
(D) None of the above

M

Mr. Dubey • 52.58K Points
Coach

Q 82. A company auditor in general has to submit his report to

(A) Shareholders
(B) Central Government
(C) C&A-G
(D) An insurer

M

Mr. Dubey • 52.58K Points
Coach

Q 83. Remuneration of a company auditor is fixed by the

(A) Shareholders
(B) Board of Directors
(C) Central Government
(D) Board of Directors

M

Mr. Dubey • 52.58K Points
Coach

Q 84. The first auditor of 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) Appointing authority

M

Mr. Dubey • 52.58K Points
Coach

Q 85. The external auditor are usually appointed by

(A) The owners only
(B) The government
(C) The management and the government
(D) Till a new audtor is appointed

M

Mr. Dubey • 52.58K Points
Coach

Q 86. Audit of partnership firm is under

(A) Audit of other organizations covered by any law
(B) Audit required under law
(C) Audit of other organizations not covered by any law
(D) The owners and in some cases by the government.

M

Mr. Dubey • 52.58K Points
Coach

Q 87. Under technique of Auditing,Documents which have their origin in the hands of the third party and held by them is

(A) Reliable
(B) More reliable
(C) Reliable only if the internal control is effective.
(D) None of the above.

M

Mr. Dubey • 52.58K Points
Coach

Q 88. Audits should be based on the six principles,according to

(A) ISO 19001:2011
(B) ISO 19011:2011
(C) ISO 19111:2011
(D) Most reliable evidence.

M

Mr. Dubey • 52.58K Points
Coach

Q 89. The primary objective of auditing is to

(A) To examine the reliability and validity of financial statements.
(B) To detect errors
(C) To detect frauds
(D) ISO 19000:2011

M

Mr. Dubey • 52.58K Points
Coach

Q 90. An error occurs due to negligence in recording the details of transaction, such errors are of clerical nature and are of wrong entries,wrong positioning,additions,transfer,etc.. is called

(A) Errors of Commission
(B) Errors of Omission
(C) Errors of principle
(D) None of the above.

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