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Practical Auditing quiz

Authored by Priyanghaa M

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University

Used 2+ times

Practical Auditing quiz
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10 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Auditing is compulsory for

Small scale business

Partnership firm

All joint stock companies

2.

FILL IN THE BLANK QUESTION

20 sec • 1 pt

Internal audit means

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which is the backbone of auditing

Vouching

Accounting

Revaluation

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Concurrent audit is a part of

Internal check system

Continuous audit system

Internal audit system

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which of the following statement is correct

Valuation is a part of verification

Verification is a part of valuation verification

Auditor is a valuer

6.

OPEN ENDED QUESTION

20 sec • 1 pt

Statement 1: scope of valuation is wider than verification

Statement 2: valuation is done after vouching but before verification.

Verify which statement is true & false

Evaluate responses using AI:

OFF

Answer explanation

Statement 2 is true statement 1 is false

7.

MULTIPLE CHOICE QUESTION

20 sec • Ungraded

In case of return Inwards the auditor should verify

Credit note & delivery challan

Credit note & goods received note

Purchase invoice & goods received note

Answer explanation

Credit note & goods received note should be verified

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