- (A) It helps the auditor to study relationship among elements of financial information
- (B) Relationship among data exist and continue in the absence of known condition to the contrary
- (C) Analytical procedures will not be able to detect unusual relationships
- (D) None of the abov
Auditing Mcqs
- (A) Capital redemption reserve
- (B) Security premium account
- (C) Debenture redemption reserve
- (D) Capital reserve
- (A) Undervaluation of closing stock
- (B) Charging capital expenditure to revenue
- (C) Goods sent on consignment being shown as actual sales
- (D) Charging higher rates of depreciation on fixed assets than actually required
- (A) effluxion of time
- (B) use
- (C) obsolescence through technology be market changes
- (D) remarket expectation
- (A) Cost of raising a loan
- (B) Cost of accessories of motor vehicles spent at the time of purchase
- (C) Expenses incurred for laying of sewers on land purchased
- (D) Insurance premium paid at the time of registration of the ship
- (A) The reliability of audit evidence and its relevance in meeting the audit objective
- (B) The objectivity and integrity of the auditor
- (C) The quantity of audit evidence
- (D) The independence of the source of evidence
- (A) The auditor has ascertained that the balance is materially correct when in actual fact it is not
- (B) The auditor concludes the balance is materially misstated when in actual fact is not
- (C) The auditor has rejected an item from sample which was not supported by documentary evidence
- (D) He applies random sampling on data which is inaccurate and inconsistent
- (A) The auditor concludes balance is materially correct when in actual fact it is not
- (B) The auditor concludes that the balance is materially misstated when in actual fact it not
- (C) The auditor has rejected an item for sample which was material
- (D) None of the above
- (A) Authenticated copy of relevant minutes of meetings may be regarded as management representation
- (B) It should always be in working
- (C) It may be dated prior to the report date
- (D) It should be addressed to the auditor
- (A) Risk of over reliance
- (B) Risk of incorrect rejection
- (C) Risk of incorrect acceptance
- (D) Both
