Telephone charges should be examine on the basis of ________________
A. cash memo
B. telephone bill
C. all the above
D. agreement with telephone department
✅ The correct answer is option B.
________________ is not an error of Commission
A. mathematical error
B. compensating error
C. posting error
D. none of the above
✅ The correct answer is option B.
Stock of goods on consignment should be valued at ________________
A. none of the above
B. invoice price
C. cost of realizable value whichever is lower
D. cost price
✅ The correct answer is option C.
________________ document is not relevant for vouching cash purchases
A. purchase order
B. goods inward register
C. purchase invoice
D. attendance record of cashier
✅ The correct answer is option D.
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.
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.
________________ incorporates both Accounting and Administrative Controls.
A. internal control
B. internal check
C. statutory audit
D. internal audit
✅ The correct answer is option A.
Audit programme should be ________________
A. flexible
B. rigid
C. oral and flexible
D. oral
✅ 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.
Analytical Review is ________________
A. an audit technique
B. audit in depth
C. a compliance procedure
D. reporting requirement
✅ The correct answer is option A.