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WorksheetsE1E2 Auditing
Total questions: 30
Worksheet time: 11mins
Name
Class
Date
1.
Under Sec 619(4) of the companies Act, CAG will review the audited financial report of
a)
Internal auditor
b)
Inspection audit
c)
Statutory audit
d)
All the above
2.
Whose is eligible for appointment as an auditor of a comapny
a)
chartered account
b)
cost accountant
c)
Both 1 and 2
d)
None of the above
3.
As prescribed in Sec 129 of the companies Act 2013 at every AGM the Board of Directors of the company shall lay the
a)
Profit & Loss a/c
b)
Balancesheet
c)
Both 1 and 2
d)
None of the above
4.
IAAD stands for
a)
Indian Audit and Accounts Department
b)
Indian Accounts and Audit Department
c)
Indian Auditors and Accountants Department
d)
None of the above
5.
CAG stands for
a)
Comptroller & Auditor General
b)
Costing & Auditor General
c)
Both 1 and 2
d)
None of the above
6.
The Constitution of India requires CAG to make his report to
a)
The President of India
b)
Parliament
c)
Sate Legislature
d)
All the above
7.
Sanctioning the disposable unserviceable stores is carried out in
a)
Form ACE - 9
b)
Form ACE - 6
c)
Form ACE - 5
d)
Form ACE - 10
8.
The audit report of Government departments is referred to the
a)
Public Accounts Committee
b)
Committee on Public Undertakings
c)
Both 1 and 2
d)
CAG
9.
The audit report of Government Companies is referred to the
a)
Public Accounts Committee
b)
Committee on Public Undertakings
c)
Both 1 and 2
d)
CAG
10.
Which of the following is some remarks often made in Auditor's Report
a)
Huge Unutilized stores with units
b)
No necessary provision for Liquidated Damages
c)
Capital Advances given
d)
All the above
11.
Which of the following is some remarks often made in Auditor's Report
a)
Claims recoverable from DOT not acknowledged
b)
No lease deeds for hire buildings
c)
Non insurance to vehicles and other assets
d)
All the above
12.
Which of the following is some remarks often made in Auditor's Report
a)
Capital Advances given
b)
Huge Unutilized stores with units
c)
No necessary provision for Liquidated Damages
d)
All the above
13.
Who shall afford all reasonable facilities to the Audit Officer & Internal auditor
a)
CMD
b)
Bord of Directors
c)
Subordinate authority
d)
None of the above
14.
The scope of revenue audit is to ensure
a)
Prompt raising of demands & collections
b)
No omission & commissions in raising demands
c)
Both 1 and 2
d)
None of the above
15.
While providing information to auditors the subordinate authority ________________
a)
Shall not withhold any information
b)
Shall withhold accounts information
c)
Can hide information
d)
None of the above
16.
At the time of transfer who has to mention the upto date position of the pending cases of audit along with charge report
a)
IFA
b)
Head of the Office
c)
Both 1 and 2
d)
None of the above
17.
With reference to the old paras what should be done by IFA
a)
Information shall be kept ready before they come
b)
Record is required to be updated
c)
Both 1 and 2
d)
None of the above
18.
If the content of the file asked by the audit party are secret or top secret, the file may be sent to the
a)
Head of the Audit office
b)
Any other section
c)
Kept in secret place
d)
All the above
19.
What will help the in setting most of the objections in the initial stage
a)
Discussion with Inspecting Officer
b)
Production of documents to audit
c)
Both 1 and 2
d)
None of the above
20.
Whether the BSNL maintaining the Cost Accounting Records
a)
Maintaing
b)
Not maintaining
c)
Not required as per CAAR
d)
None of the above
21.
Not obtaining lease deeds for the Buildings hired on lease is a remark often made by the auditors
a)
Correct
b)
Incorrect
c)
Cannot be said
d)
None of the above
22.
Performance appraisals of selected Govt. Enterprises will be made and reviewed under
a)
Individual Reports
b)
Confidential Reports
c)
Collective reports
d)
All the above
23.
Non assessment of contingent liability is a remark often made by the auditos
a)
Correct
b)
Incorrect
c)
Cannot be said
d)
None of the above
24.
ICAI stands for
a)
Institute of Chartered Accountants of India
b)
Institute of Cost Accountants of India
c)
Both 1 and 2
d)
None of the above
25.
The CAG Act came in to force in
a)
1972
b)
1971
c)
1952
d)
None of the above
26.
At the time of finalization of circle P & L A/C under which head the surplus or deficit is kept
a)
1390400
b)
1390500
c)
1390600
d)
None of the above
27.
At the time of preparation of corporate P & L a/c and B/S the circle Trial Balances are adopted
a)
with accounting entries
b)
with adjustments
c)
with out any accounting entry
d)
All the above
28.
What are the technical requirements as per the statutory auditors
a)
Provisions of Company law
b)
Accounting Standards
c)
Both 1 and 2
d)
None of the above
29.
What are the various audits in BSNL
a)
Internal audit
b)
External audit
c)
Inhouse audit
d)
All the above
30.
What are various views of an auditor
a)
Proprietory aspect
b)
Accounting aspect
c)
Both 1 and 2
d)
All the above
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