Author name: Admin

A. Minutes of meetings

B. Confirmations from debtors

C. Information gathered by auditor through observation

D. Worksheet supporting consolidated financial statements

A. When it constitutes entire population

B. When it is enough to provide a basis for giving reasonable assurance regarding truthfulness

C. When it is objective and relevant

D. When auditor collects and evaluates it independently

A. The reliability of audit evidence and its relevance in meeting the audit objective

B. The objectivity and integrity of the auditor

C. The quantity of audit evidence

D. The independence of the source of evidence

A. Randomly

B. Disproportionately

C. Directly

D. Inversely

A. May be eliminated for an account balance under certain conditions

B. Are designed to discover significant subsequent events

C. Will increase proportionately when the auditor decreases the assessed level of control risk

D. May be test of transactions, test of balance and analytical procedures

A. To be reliable, evidence should conclusive rather than persuasive

B. Effective internal control system provides reliable audit evidence

C. Evidence obtained from outside sources routed through the client

D. All are correct.

A. Section 226 (1) and section 226(2)

B. Section 224 (1) and section 224 (2)

C. Section 226 (3) and section 226(4)

D. Section 224(3) & Sec.224

A. Effluxion of time

B. Use

C. Obsolescence through technology be market changes

D. Remarket expectation

A. Cost of raising a loan

B. Cost of accessories of motor vehicles spent at the time of purchase

C. Expenses incurred for laying of sewers on land purchased

D. Insurance premium paid at the time of registration of the ship

A. Expenses paid on installation of a plant.

B. Cost of dismantling a building in case a new building is to be constructed on the land

C. Legal expenses incurred to defend a suit related to title of patent. The suit has been lost

D. The fees paid to engineer who constructed the plant.