A. Internal check.
B. Internal control.
C. Internal audit.
D. Interim check.
✅ The correct answer is option A.
57. Voucher relates to :
A. Cash receipt.
B. Cash payment.
C. Credit transactions.
D. All the above.
✅ The correct answer is option D.
56. Internal check is meant for :
A. Prevention of frauds.
B. Detection of frauds.
C. Helping audit in depth.
D. Detection of errors.
✅ The correct answer is option C.
55. Internal auditor is appointed by :
A. The management.
B. The shareholders.
C. The government.
D. The statutory body.
✅ The correct answer is option A.
54. Auditing begins where ——– ends.
A. Selling.
B. Inventory valuation.
C. Accounting.
D. Purchases.
✅ The correct answer is option C.
53. A good audit report must at least meet one of the following qualifications:
A. It should offer constructive and timely suggestions to the management.
B. It should not point out mistakes.
C. It should not be based on factual information.
D. It should not be based on balance sheet.
✅ The correct answer is option A.
72. The work of one clerk is automatically check by another clerk is called :
A. Internal control.
B. Internal check.
C. Internal audit.
D. None of the above.
✅ The correct answer is option B.
71. The owners of the company are called:
A. Debenture holders.
B. Debtors.
C. Shareholders.
D. None of the above.
✅ The correct answer is option C.
70. Verification is :
A. The art of recording the business transactions.
B. An examination of the books of accounts.
C. The act of establishing the accuracy of entries in the books of accounts.
D. none
✅ The correct answer is option C.
69. The main object of investigation is :
A. To discover errors and frauds.
B. To prevent errors and frauds.
C. To verify statements.
D. All the above.
✅ The correct answer is option D.