WorksheetsUNIT 1- TEST
Total questions: 10
Worksheet time: 2mins
Auditing starts where (a) ends.
The main object of an audit is
Expression of opinion
Detection and Prevention of fraud and error
Both (1) and (2)
Depends on the type of
The term Audit is derived from a Latin word audire which means (a)
_____________ is a systematic examniation of the books and records or a business.
Auditing
Vouching
Verification
checking
Who among the following can be appointed as auditor of a company?
A partner or a director of a company
A person of unsound mind
Mr. who owes Rs.500 to the company
Mr. Z the holder of C.A certificate
What is the first step of an Auditor to do Audit?
Collecting Evidence
Planning
The purpose of an Audit plan is to determine why, How when and by whom the audit will be performed
True
False
The scope of Auditing is _____________
Detection of fraud and errors
Judging the fair presentation of financial statements
Reporting on Financial position of Business enterprises
All the above
Auditing is done to ascertain the accuracy of financial statements provided by the organization
TRUE
FALSE
Which of the following is not true about opinion on financial statements
The auditor should express an opinion on financial
His opinion is no guarantee to future viability of business
He is responsible for detection and prevention of frauds and errors in financial statements
He should examine whether recognised accounting principle have been consistently
