B.Com Plain 3rd Year

Which of the following is normally the most reliable source of audit evidence?

• (a). Internal audit

• (b). Suppliers’ statements

• (c). Board minutes

• (d). Analytical review

A continuous audit is specially needed for

• a)Any trading concern

• b)Smaller concerns

• c)Banking companies

• d)Any manufacturing companies

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.

Which of the following persons is qualified to be a company auditor?

• a) An employee of the company

• b) A body corporate

• c) A person who is indebted to the company for an amount exceeding Rs. 1000

• d) A practicing-chartered accountant

. ______ 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

. Audit means _______.

• a) Recording business transactions

• b) Preparing final accounts

• c) Examination of books, accounts or vouchers

• d) Decision making

When a transaction has not been recorded in the books of account either wholly or partially such errors are called _______.

• a) Error of commission

• b) Error of omission

• c) Compensating error

• d) None of the above

. The objective of the audit planning is ________

• a) To give appropriate attention to all important areas of audit

• b) To identify potential problems

• c) To coordinate work with other auditors and experts

• d) All of the above

The term “Audit” originated from the Latin word

• a) Audire

• b) Adhere

• c) Adihere

• d) None of the above