A. Board meeting
B. Extraordinary general meeting
C. General meeting
D. Annual general meeting
✅ The correct answer is option C.
Auditing
192. Receipts from sale of investments should be vouched with the help of
A. Brokers bought notes
B. Brokers Sold notes
C. Minutes book
D. Inventory of investment
✅ The correct answer is option B.
193. Purchase returns should be vouched with the help of
A. Bought notes
B. Credit notes
C. Goods inward book
D. Cash book
✅ The correct answer is option B.
194. Payment for building purchased should be vouched with the help of
A. Title Deed
B. Correspondence with the brokers
C. Building Account
D. Cash book
✅ The correct answer is option A.
195. The board of directors shall appoint first auditor of a company
A. Within one month of completion of capital subscription state of the company
B. Within one month of the promotion of the company
C. Within one month of the commencement of the business of the company
D. Within one month of incorporation of the company
✅ The correct answer is option D.
196. Payment for wage should be vouched with the help of
A. Piece Work Statement.
B. Wage sheets
C. Minutes book
D. Bank pass book.
✅ The correct answer is option B.
197. As per the requirements of section 226(3) and 226(4) a person is disqualified from being appointed as a statutory auditor if he holds
A. Equity shares or debentures of the company
B. Equity shares carrying voting of the company
C. Shares carrying voting rights of the company
D. Security carrying voting rights of the company
✅ The correct answer is option D.
198. Knowledge of the entity’s business does not help the auditor to
A. Reduce inherent risk
B. Identify problem areas
C. Evaluate reasonableness of estimates
D. Evaluate appropriates of GAAP.
✅ The correct answer is option A.
199. Which of the following statement is not true?
A. A partnership firm can be appointed as a statutory auditor of limited company
B. Appointment can be made in the name of the firm
C. Majority of the partners should be practicing in India
D. All partners should be chartered accountants
✅ The correct answer is option C.
200. The current file of the auditor’s working papers, generally, should include
A. A flowchart of the internal controls
B. Organisation charts
C. A copy of financial statements
D. Copies of bond and debentures
✅ The correct answer is option C.