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Today's Quiz🐳

Subject:- Audit🦋

Topic:- Chapter 5:- Fraud and responsibilities of the auditor in the regard🪼

Timing:-10:00pm🌌

Are you ready for the quiz?

Which of the following is an example of inflating cash payments?
(a) Making payments against purchase vouchers.
(b) Teeming and lading
(c) Not accounting for cash sales fully.
(d) Making payments against inflated vouchers.

The type of errors, existence of which becomes apparent in the process
of compilation of accounts is known as:
(a) Self-revealing errors.
(b) Intentional errors
(c) Concealed errors
(d) Unconcealed errors.

Reporting on fraud is to be made by an auditor to Central Government
when fraud amount is
(a) Exceeding 10 lakh
(b) Exceeding 50 lakh
(c) Exceeding 1 crore
(d) 1 crore or above

Reporting on fraud is made by auditor under which of the following
clause of para 3 of CARO, 2020
(a) Clause (xi)
(b) Clause (xii)
(c) Clause (xiii)
(d) Clause (xiv)

Which of the following is not an example of inflation of payments:
(a) Making payments against fictitious vouchers.
(b) Adjusting unauthorized or fictitious rebates, allowances,
discounts, etc. to customer’ accounts and misappropriating
amount paid by them.
(c) Making payments against vouchers, the amounts whereof have
been inflated.
(d) Manipulating totals of wage rolls either by including therein
names of dummy workers or by inflating them in any other
manner