Auditing - Study Mode
[#156] In case of sales return, the auditor should examine which documents?
Correct Answer
(D) Credit notes, inspection report and inward return notes
[#157] Which of the following is/are the object(s) of cost audit for organisations?
Correct Answer
(D) All of these
[#158] A sale of Rs. 30,000 to A was entered as a sale to B. This is an example of
Correct Answer
(B) Error of commission
[#159] The verification of the value of assets, liabilities, balance of reserves, provision and the amount of profits earned or loss suffered is called . . . . . . . .
Correct Answer
(A) Balance sheet audit
[#160] Match the following in the term of Assertions and Explanation : List I (Assertions) List II (Explanations) a. Cut-off 1. Assets and liabilities exist b. Classification 2. Transactions and events have been recorded in proper accounts c. Occurrence 3. Transactions and events have been recorded in the correct accounting period d. Existence 4. Transactions and events that have been recorded, have occurred and pertain to the entity
Correct Answer
(B) a-3, b-2, c-4, d-1