A. client and auditor
B. auditor
C. client
D. equity shareholders
✅ The correct answer is option B.
Which of the following documents is not relevant for vouching of sales ________________
A. daily cash sales summary
B. credit memos
C. delivery challans
D. sales department attendance record
✅ The correct answer is option D.
The main object of an Audit is ________________
A. to ensure that final accounts are prepared
B. expression of an opinion on true and fair view of accounts
C. to ensure the future viability of the enterprise
D. detection and prevention of frauds and errors
✅ The correct answer is option B.
An Audit Programme must be prepared ________________
A. before commencement of an audit
B. after completion of an audit
C. after submission of an audit report
D. during the conduct of an audit
✅ The correct answer is option A.
Analytical Review is ________________
A. an audit technique
B. audit in depth
C. a compliance procedure
D. reporting requirement
✅ The correct answer is option A.
Audit in Depth means ________________
A. none of the above
B. detailed examination of all transactions
C. investigation of all transactions
D. detailed examination of selected transactions
✅ The correct answer is option D.
Audit programme should be ________________
A. flexible
B. rigid
C. oral and flexible
D. oral
✅ The correct answer is option A.
________________ incorporates both Accounting and Administrative Controls.
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.