- (A) Complete audit
- (B) Completed audit
- (C) Final audit
- (D) Detailed audit
Auditing Mcqs
- (A) When it constitutes entire population
- (B) When it is enough to provide a basis for giving reasonable assurance regarding truthfulness
- (C) When it is objective and relevant
- (D) When auditor collects and evaluates it independently
- (A) To be reliable, evidence should conclusive rather than persuasive
- (B) Effective internal control system provides reliable audit evidence
- (C) Evidence obtained from outside sources routed through the client
- (D) All are correct.
- (A) randomly
- (B) disproportionately
- (C) directly
- (D) inversely
- (A) may be eliminated for an account balance under certain conditions
- (B) are designed to discover significant subsequent events
- (C) will increase proportionately when the auditor decreases the assessed level of control risk
- (D) may be test of transactions, test of balance and analytical procedures
- (A) Bank statements obtained from the client
- (B) Documents obtained by auditor from third parties directly.
- (C) Carbon copies of sales invoices inspected by the auditor
- (D) Computations made by the auditor
- (A) To help to corroborate the conclusions drawn from individual components of financial statements
- (B) To reduce specific detection risk
- (C) To direct attention to potential risk areas
- (D) To satisfy doubts when questions arise about a client’s ability to continue
- (A) client’s unedited account balance
- (B) client’s unedited account balance adjusted for trends in the industry
- (C) Prior year audited balance
- (D) Prior year audited balance adjusted for trends in the industry
- (A) Tracing of purchases recurred in the purchase book to purchase invoices.
- (B) Comparing aggregate wages paid to number of employees
- (C) Comparing the actual costs with standard costs
- (D) All of them are analytical procedure
- (A) Substantive tests designed to assess control risk
- (B) Substantive tests designed to evaluate the validity of management’s representation letter
- (C) Substantive tests designed to study relationships between financial and nonfinancial
- (D) All of the above
