A. Cash receipt & payments, credit transactions
B. Cash payment only
C. Credit transactions only
D. Cash receipt only
✅ The correct answer is option A.
78. Internal check is meant for ___________.
A. Prevention of frauds
B. Detection of frauds
C. Helping audit is depth
D. Detection of errors
✅ The correct answer is option A.
77. Purchase of machinery is a ____________.
A. revenue receipt
B. capital receipt
C. capital expenditure
D. revenue expenditure
✅ The correct answer is option C.
76. Sale of land is a __________.
A. revenue receipt
B. capital receipt
C. capital expenditure
D. revenue expenditure
✅ The correct answer is option B.
75. When a transaction has not been recorded in the books of account either wholly or partially such errors are called as _________.
A. errors of commission
B. errors of omission
C. compensating error
D. error of principle
✅ The correct answer is option B.
74. Verification of the value of assets, liabilities, the balance of reserves, provision and the amount of profit earned or loss suffered a firm is called _________.
A. continuous audit
B. balance sheet audit.
C. interim audit
D. partial audit
✅ The correct answer is option B.
73. A sale of Rs. 50000 to Mr. A was entered as a sale to Mr. B. This is an example of what?
A. Error of omission
B. Error of commission
C. Compensating error
D. Error of principle
✅ The correct answer is option B.
92. Recording a transaction twice in the books of original entry is an error of __________.
A. principle
B. commission
C. duplication
D. omission
✅ The correct answer is option C.
90. Errors and frauds already committed can be discovered under the system of ________.
A. internal audit, internal check, internal control
B. external check
C. statutory audit
D. interim audit
✅ The correct answer is option A.
88. Treating revenue expenditure as capital expenditure is a case of _________.
A. fraud
B. misappropriation of cash
C. misappropriation of goods
D. manipulation of accounts
✅ The correct answer is option D.