Auditing MCQs for Test Preparation Online | Latest 2021 Quiz FPSC, NTS, KPPSC, PPSC, SPSC, BPSC, OTS, UTS, PTS, CTS, ATS, ETEA MCQs Test Questions.
Which of the following documents is not relevant for vouching cash sales?
A: Daily cash sales summary
B: Salesmens summary
C: Monthly statements sent to customers
D: Bank statement
Monthly statements sent to customers
To test whether sales have been recorded, the auditor should draw a sample from a file of__________?
A: purchase orders
B: sales orders
C: sales invoices
D: bill of loading
The auditor should examine subsequent realization of revenue such as dividends, interest,commission, etc to:_____________?
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
identify cases of unrecorded revenue
The auditor has serious concern about the going concern of the company. It is dependent on companys obtaining a working capital loan from a bank which has been applied for. The management of the company has made full disclosure of these facts in the notes to the balance sheet. The auditor is satisfied with the level of disclosure. He should issue___________?
A: unqualified opinion
B: unqualified opinion with reference to notes to the accounts
C: qualified opinion
D: disclaimer of opinion
unqualified opinion with reference to notes to the accounts
Which of the following is true about explanatory notes?
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 auditors report
D: All of the above
These are given by the directors of the company
The client changed method of depreciation from straight line to written down value method. This has been disclosed as a note to the financial statements. It has an immaterial effect on the current financial statements. It is expected, however, that the change will have a significant effect on future periods. Which of the following option should the auditor express?
A: Unqualified opinion
B: Qualified opinion
C: Disclaimer of opinion
D: Adverse opinion
When restrictions that significantly affect the scope of the audit are imposed by the client, the auditor generally should issue which of the following opinion?
A: Qualified opinion
B: Disclaimer of opinion
C: Adverse opinion
D: Unqualified report with an emphasis of matter paragraphÍ¾
The branch auditor is appointed by___________?
A: Shareholders in an annual general meeting
B: Shareholders in general meeting
C: Board of directors in board meeting
D: Any of the above
Shareholders in general meeting
Auditor of a___________company does not have right to visit foreign branches of the company?
A: Unlimited liability
D: Nonprofit making
The date on auditors report should not be____________?
A: the data of AGM
B: later than the date on which the accounts are approved in boards meeting
C: earlier than the date on which the accounts are approved by the management
D: Both and B.
earlier than the date on which the accounts are approved by the management