- (A) Randomly
- (B) Disproportionately
- (C) Directly
- (D) Inversely
Auditing Mcqs
- (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) 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) 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) Be included in the stock
- (B) Not be included in the stock
- (C) Not be checked by auditor
- (D) None of the above
- (A) cost
- (B) Market price
- (C) Cost or market price whichever is lower
- (D) Cost less depreciation
- (A) Cost
- (B) Market price
- (C) Cost or Market price whichever is lower.
- (D) Cost less depreciation.
- (A) Examining the physical existence and valuation of assets.
- (B) Examining the journal and ledger
- (C) Examination of vouchers related to assets.
- (D) None of the abov
- (A) It helps to study relationship among balance sheet accounts
- (B) It helps to discover material misstatements in the financial statements
- (C) It helps to identify possible oversights
- (D) It helps to accumulate evidence supporting the validity of a specific account balance
- (A) Helps to determine the nature, timing and extent of other audit procedures
- (B) Directs attention to potential risk areas
- (C) Indicates important aspects of business
- (D) All of the above
