Accounting MCQs

A. Internal check system
B. Continuous audit
C. Internal audit system
D. None of these

A. Complete audit
B. Completed audit
C. Final audit
D. Detailed audit

A. 1949
B. 1956
C. 1961
D. 1972

A. it is conducted at regular interval
B. it may be carried out on daily basis
C. it is needed when the organization has a good internal control system
D. it is expensive

A. statutory audit
B. balance sheet audit
C. concurrent audit
D. both (a. and (b.

A. Annual audit
B. Continuous audit
C. Detailed audit
D. Statutory audit

A. Complete audit
B. Completed audit
C. Final audit
D. Detailed audit

A. Assets
C. Income and expense accounts where appropriate
B. Liabilities
D. All of the above

A. Verification of assets and liabilities
B. Vouching of income and expense accounts related to assets and liabilities
C. Examination of adjusting and closing entries
D. Routine checks

A. Lower, higher, lower
B. Lower, lower, higher
C. Higher, lower, lower
D. Lower, higher, higher