A. internal control
B. internal check
C. statutory audit
D. internal audit
✅ The correct answer is option A.
Debtors are valued at ________________
A. realizable value
B. as per articles of association
C. book value
D. decided by the customer
✅ The correct answer is option C.
The main objective of Window Dressing is ________________
A. increase liability
B. to mislead investors
C. to reduce tax liability
D. to understate profits
✅ The correct answer is option B.
________________ document is not relevant for vouching cash purchases
A. purchase order
B. goods inward register
C. purchase invoice
D. attendance record of cashier
✅ The correct answer is option D.
To select a sample for Audit, the auditor should consider ________________
A. all the above
B. the size of the sample
C. the volume of transactions
D. adequacy of internal control system
✅ The correct answer is option A.
Secret reserves are shown on ________________
A. assets side of balance sheet
B. none of the above
C. liabilities side of balance sheet
D. credit side of trading account
✅ The correct answer is option B.
Stock of goods on consignment should be valued at ________________
A. none of the above
B. invoice price
C. cost of realizable value whichever is lower
D. cost price
✅ The correct answer is option C.
________________ is not an error of Commission
A. mathematical error
B. compensating error
C. posting error
D. none of the above
✅ The correct answer is option B.
Telephone charges should be examine on the basis of ________________
A. cash memo
B. telephone bill
C. all the above
D. agreement with telephone department
✅ The correct answer is option B.
The Auditor examines Bill of Lading in order to vouch ________________
A. sales within the state
B. all the above
C. sales outside the state
D. sales outside the country
✅ The correct answer is option D.