A. Examination of journal & ledger
B. Examination of vouchers related to assets
C. Examining the physical existence & valuation of assets
D. Calculation of valuation of assets
✅ The correct answer is option C.
31. Valuation of fixed assets is based on the concept –
A. Going concern
B. Money measurement
C. Dual aspect
D. Cost concept.
✅ The correct answer is option A.
30. Floating assets are valued at –
A. Cost
B. Market price
C. Cost price or market price whichever is less
D. Cost less than depreciation
✅ The correct answer is option C.
29. Outstanding expenses should be verified with the help of –
A. Cashbook
B. Balance book
C. Journal proper
D. None of above.
✅ The correct answer is option C.
28. First auditor of the company is appointed by the –
A. Shareholders
B. Central government
C. Company law board
D. Board of directors
✅ The correct answer is option D.
27. The vacancy caused by resignation at a 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
✅ The correct answer is option B.
26. A special auditor is appointed by the –
A. Shareholders
B. Board of directors
C. Central government
D. CAG
✅ The correct answer is option C.
25. A remuneration of a company auditor is fixed by the –
A. Shareholders
B. Board of directors
C. Central Government
D. Appointing authority
✅ The correct answer is option D.
24. Internal auditor has to submit report to –
A. Shareholders
B. Government
C. Company law board
D. none of above
✅ The correct answer is option D.
23. Auditor in general is –
A. Employee of the company
B. Agent of the company
C. Agent of the shareholders
D. None of the above
✅ The correct answer is option C.