Auditing MCQs

Public company is audited

Concealment of shortage by delaying the recording of cash receipts is known as:

Which of the following does not call for physical verification:

Closing stock is recorded in the books of accounts through:

Where does balance sheet audit prove to be more efficient?

Cost audit was started in the following year

The arrangement under which such a system of work is deposited so that the work of one employee is checked by another employee only in the progress of work is called

Which among the following are NOT qualified to be appointed as auditor of a company? (1) An individual who is a Chartered Accountant and holds a Certificate of Practice as per CA Act, 1949 (2) A limited liability partnership firm, which has all partners as Chartered Accountants (3) Officer or employee of a company who is qualified Chartered Accountant degree holder too (4) Any Chartered Accountant whose appointment will result in the person being the auditor of more than 10 companies Choose the most appropriate option:

An auditor should ascertain that a company pays dividends out of: