B.Com Ft 3rd Yr. Auditing

. Errors of omission are

• a) Technical errors

• b) Error of principle

• c) Compensating errors

• d) None of the above

Which of the following is not a kind of audit?

• A. Statutory and private.

• B. Government and continuous audit.

• C. Interim audit.

• D. None of these

Auditing begins where _____ends.

• A. Selling.

• B. Inventory valuation.

• C. Accounting.

• D. Purchases.

Internal auditor is appointed by______

• a) Management

• b) Shareholders

• c) Government

• d) Statutory body

.........is the medium through which an auditor expresses his opinion on the state of affairs of the client’s business.

• a) Audit report

• b) Audit certificate

• c) Audit programme

• d) Audit planning

The main object of an

audit is _____________?

• A. Expression of opinion

• B.Detection and Prevention of fraud and error

• C.Both (A) and (B)

• D.Depends on the type of audit.

Auditing is compulsory

for____________?

• A.Small scale business

• B.Partnership firms

• C.Joint stock Companies

• D.Proprietary Concerns

Sole proprietary concerns are ______ to get their financial statements audited by independent financial auditors.

• a) Legally required

• b) Not legally required

• c) Ethically required

• d) Not ethically required

Audit programme is prepared by _____

• a) The auditor

• b) The client

• c) The audit assistant

• d) The auditor and his audit assistants

. An audit conducted throughout the year or at the regular intervals of time is known as _________.

• a) Continuous audit

• b) Internal audit

• c) Statutory audit

• d) External audit