- (A) Because they are easier to audit
- (B) Because it reduces the audit time
- (C) Because the risk to the accounts of their being incorrectly stated is greater
- (D) Because the directors have asked for it
Auditing Mcqs
- (A) Are responsible for ensuring that the company complies with the law
- (B) Are responsible for ensuring that the company pays its tax by the due date
- (C) Safeguard the company’s assets and manage them on behalf of the shareholders
- (D) Report suspected fraud and money laundering to the authorities
- (A) Protect the interests of the minority shareholders
- (B) Detect and prevent errors and fraud
- (C) Assess the effectiveness of the company’s performance
- (D) Attest to the credibility of the company’s accounts
- (A) Embezzlement
- (B) Misappropriation
- (C) Lapping
- (D) None of these
- (A) Small scale business
- (B) Partnership firms
- (C) Joint stock Companies
- (D) Proprietary Concerns
- (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
