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.
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.
77. Purchase of machinery is a ____________.
A. revenue receipt
B. capital receipt
C. capital expenditure
D. revenue expenditure
✅ The correct answer is option C.
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.
81. A number of checks and controls exercised in a business to ensure its efficient working are known as ________.
A. Internal Check
B. Internal Control
C. Internal Audit
D. Interim Check
✅ The correct answer is option B.
82. Before the work of audit is commenced, the auditor plans out the whole of audit work is called _________.
A. Audit Plan
B. Audit Note
C. Audit Programme
D. Audit Control
✅ The correct answer is option C.
83. Management audit otherwise called as _______.
A. Final audit
B. Efficiency Audit
C. Cost Audit
D. Cash audit
✅ The correct answer is option B.
85. This kind of audit is conducted generally between two annual audit ______.
A. Internal Audit
B. Interim audit
C. Final Audit
D. Continuous Audit
✅ The correct answer is option B.
87. Audit done by the employees of the business undertaking is called _______.
A. Final audit
B. Management Audit
C. Government Audit
D. Internal Audit
✅ The correct answer is option D.
89. .Instruction of audit issued by controller and auditor general of India ________.
A. Statutory audit
B. Final Audit.
C. Management audit
D. Government audit
✅ The correct answer is option D.