Auditing MCQs

A. Unlimited liability
B. Manufacturing
C. Banking
D. Non­profit making

A. The data of agm
B. Later than the date on which the accounts are approved in board’s meeting
C. Earlier than the date on which the accounts are approved by the management
D. Both a. and b.

A. Qualified opinion
B. Disclaimer of opinion
C. Adverse opinion
D. Unqualified report with ‘an emphasis of matter’ paragraph;

A. Unqualified opinion
B. Unqualified opinion with reference to notes to the accounts
C. Qualified opinion
D. Disclaimer of opinion

A. These are given by the directors of the company
B. These are given to adhere to requirements of section 211.
C. These are given by auditors of the company in auditor’s report
D. All of the above

A. Unqualified opinion
B. Qualified opinion
C. Disclaimer of opinion
D. Adverse opinion

A. Daily cash sales summary
B. Salesmen’s summary
C. Monthly statements sent to customers
D. Bank statement

A. Purchase orders
B. Sales orders
C. Sales invoices
D. Bill of loading

A. Identify cases of unrecorded revenue
B. Ensure proper disclosure in the balance sheet
C. Recompute accrued income on the data of balance sheet
D. Any of these

A. The auditor cannot give an opinion due to lack of evidence.
B. The client’s financial statements were found to be materially misstated.
C. The auditor could not conduct any tests due to lack of controls.
D. The auditor did not find anything to indicate that a material misstatement exists.