A. Kingston Cotton Mill Case
B. London & General Bank Case
C. Lee VS Neuchatel Co. LTD Case
D. London Oil Storage Co.LTDCase
✅ The correct answer is option A.
3. The panel of Auditors of cooperative society is maintained by –
A. Charted Accountant
B. Central Government
C. Registrar
D. Shareholders
✅ The correct answer is option C.
1. Banking Regulation Act was passed in the year–
A. 1912
B. 1949
C. 1956
D. 1955.
✅ The correct answer is option B.
13. Which of the following statements is not correct regarding removal of first auditor before expiry of the term?
A. He is removed at general meeting
B. Shareholders are authorized to do so
C. The approval of central government is required for such removal
D. The provision for such removal is contained in Section 224 (7)
✅ The correct answer is option C.
12. Retiring auditor does not have right to –
A. Make written representations
B. Get his representation circulated
C. Be heard at the meeting
D. Speak as member of company
✅ The correct answer is option A.
11. According to Section ___ Special Audit is conducted at the central government
A. Section 233(A)
B. Section 233(B)
C. Section 242(A)
D. Section 242(B)
✅ The correct answer is option C.
10. Auditor of a _____ company does not have right to visit foreign branches of company.
A. Unlimited Company
B. Manufacturing Company
C. Banking Company
D. Non-Profit making company
✅ The correct answer is option B.
9. Cost Audit under Section 233(B) of The Company Act is _____
A. Voluntary
B. Compulsory
C. Advisable.
D. Avoidable
✅ The correct answer is option C.
8. Internal Auditing Standards are issued by the –
A. International Accounting Standard Board
B. Financial Accounting Standard Board
C. International Audit & Assurance Standard Board
D. Auditing Practices Board
✅ The correct answer is option C.
7. Which of the following is not a duty of an auditor?
A. Duty to report company’s banker
B. Duty to report to the members
C. Duty to sign the audit report
D. Duty to report on any violation of law
✅ The correct answer is option A.