- (A) Small scale business
- (B) Partnership firms
- (C) Joint stock Companies
- (D) Proprietary Concerns
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- (A) Auditing
- (B) Testing
- (C) Vouching
- (D) Verification
- (A) Blood haunt
- (B) Watch dog
- (C) May both according to situation
- (D) None of these
- (A) Expression of opinion
- (B) Detection and Prevention of fraud and error
- (C) Both (A) and (B)
- (D) Depends on the type of audit.
- (A) To inspect
- (B) To examine
- (C) To hear
- (D) To investigate
- (A) Auditing
- (B) Vouching
- (C) Verification
- (D) Checking
- (A) A matter is material only if it changes the audit report
- (B) A matter is material if the auditor and the directors both decide that further work needs to be done in the area under question
- (C) A matter is material only if it affects directors’ emoluments
- (D) A matter is material if its omission or misstatement would reasonably influence the decisions of an addressee of the auditors’ report
- (A) Until the audit is complete
- (B) Until the financial statements are complete
- (C) Until the next AGM (Annual General Meeting)
- (D) Until the directors remove them
- (A) the directors
- (B) the company’s creditors (payables)
- (C) the company’s bank
- (D) the shareholders
- (A) The shareholders in a general meeting
- (B) The managing director
- (C) The board of directors in a board meeting
- (D) The audit committee
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