A. inefficient concern
B. processing concern
C. trading concern
D. manufacturing concern
✅ The correct answer is option A.
84. The first auditors appointed by head office ____________.
A. for a period of one year
B. for a period of two years
C. for a period of three years
D. till the conclusion of the first annual general meeting
✅ The correct answer is option D.
67. Audit Note Book contains: ———————————————————
A. Various dates of reference.
B. Details of work done.
C. Notes regarding item requiring clarification, explanations, etc.
D. All of the above.
✅ The correct answer is option D.
65. Which of the following has a broader scope?
A. Internal Control.
B. Internal Audit.
C. Internal Checking.
D. None of the above.
✅ The correct answer is option D.
63. An internal auditor is :
A. Temporary Employee.
B. Permanent Employee.
C. Daily Wager.
D. None of the above.
✅ The correct answer is option B.
61. Valuation is the base of:
A. Verification.
B. Marketing.
C. Internal checking.
D. Vouching.
✅ The correct answer is option A.
59. The first auditor or auditors are appointed by :
A. Central Government.
B. Company Law Board.
C. Board of Directors.
D. Shareholders.
✅ The correct answer is option C.
58. A number of checks & controls exercised in a business to ensure its efficient working is known as :
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.