A. After charging depreciation
B. Without charging depreciation
C. Out of capital
D. None of the above.
✅ The correct answer is option A.
SSC
1202. “Auditor is not valuer.” This statement was stated in –
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.
1203. The term Standard Auditing Practices refers –
A. Auditing techniques adopted by auditor for collecting & vouching evidences
B. Test checking
C. Standards of auditing
D. True & fair view
✅ The correct answer is option A.
1204. Interim audit refers to –
A. Examination of accounts continuously
B. Examination of accounts intermittently
C. Audit work to find out & check interim profits of a company
D. Carrying on audit for bonus purposes at the end of year
✅ The correct answer is option C.
1205. Shares issued for consideration other than cash should be vouched with help of –
A. Directors minutes book
B. Shareholders minute’s book
C. Contract with the party concerned
D. Cash book
✅ The correct answer is option C.
1206. The audit program is prepared by –
A. The auditor
B. The client
C. The audit assistants
D. Auditor & his assistants
✅ The correct answer is option D.
1207. Auditor in general is –
A. Employee of the company
B. Agent of the company
C. Agent of the shareholders
D. None of the above
✅ The correct answer is option C.
1208. Internal auditor has to submit report to –
A. Shareholders
B. Government
C. Company law board
D. none of above
✅ The correct answer is option D.
1209. A remuneration of a company auditor is fixed by the –
A. Shareholders
B. Board of directors
C. Central Government
D. Appointing authority
✅ The correct answer is option D.
1210. The audit that is made compulsory under the statute is called –
A. Statuary audit
B. Partial audit
C. Complete audit
D. Continues audit
✅ The correct answer is option A.