A radio taxi driver has provided his services through Electronic Commerce Operator - Luber cabs. The tax on such supplies shall be paid by -
Anonymous Quiz
70%
Electronic Commerce Operator - Luber cabs
17%
Radio taxi driver
9%
Customer receiving the services from radio taxi driver
4%
None of the above
……………. refer to representations by management, explicit or otherwise, that are embodied in the financial statements, as used by the auditor to consider the different types of potential misstatements that may occur.
Anonymous Quiz
42%
Assertions
11%
Positive Confirmation
17%
Written representation
31%
Audit Evidence
👍4
12) Annual credit sales Rs. 4,00,000; Average collection period 45 days (assume 360 days in a year). What is Average debtors?
Anonymous Quiz
7%
60000
12%
74000
73%
50000
8%
400000
👍1
13) _______ refers to the record of audit procedures performed, relevant audit evidence obtained, and conclusions the auditor reached.
Anonymous Quiz
9%
Audit Techniques
27%
Audit Evidence
62%
Audit Documentation
2%
None of the above
14) What should be the optimum Dividend payout ratio, when r=12% and Ke=10%?
Anonymous Quiz
37%
Zero
20%
50%
34%
12%
9%
100%
A request from the client for the auditor to change the engagement may result from -
Anonymous Quiz
12%
a change in circumstances affecting the need for the service
9%
a misunderstanding as to the nature of an audit or related service originally requested
17%
a restriction on the scope of the engagement,whether imposed by mangmnt or caused by circumstances
63%
All of the above
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👍1
16) While evaluating projects with different initial outlay, which of the following methods is more appropriate than NPV?
Anonymous Quiz
22%
Payback period
28%
Accounting rate of return
26%
Profitability index
24%
Discounted Payback Period
17) In order to form the opinion, the auditor shall conclude as to whether the auditor has obtained ______ about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error.
Anonymous Quiz
78%
Reasonable assurance
15%
Absolute assurance
4%
Limited assurance
3%
None of the above
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CA Inter IDT Rapid Revision Nov 2023
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CA Inter IDT Rapid Revision Nov 2023
Finish IDT in 3 days with practicing MCQs & exam questions
Practicing questions = Secure exemption
Sep 29, 30 & Oct 6 👉 10am to 5pm
Lets crack it together
Book your seat now
Connect us on - 9746 8080 15
Our Major links
WhatsApp study group - https://chat.whatsapp.com/E6JFiZLLR3RFmZnn96qWXD
Telegram Channel(exclusively for MCQ practice) - https://t.me/study_cab
For Demo & free lectures - youtube.com/@studycab7040
18) A company has a Debt Equity ratio of 1.75 as compared to 1.5 Industry average. It means that the company has _______________.
Anonymous Quiz
23%
Higher capital employed
54%
Higher financial risk
13%
Higher capital employed
10%
Higher profitability
19) ______ refers to an attitude that includes a questioning mind, being alert to conditions which may indicate possible misstatement due to error or fraud, and a critical assessment of audit evidence.
Anonymous Quiz
66%
Professional skepticism
24%
Professional Judgement
9%
Integrity
2%
Objectivity
❤2
20) A company’s Current Ratio is 2.0. If it uses cash to pay creditors , this transaction would cause:
Anonymous Quiz
25%
No change in the liquidity position
25%
No change in current ratio
34%
Decrease in current ratio
16%
Increase in current ratio
👎3
21) P appoints Q, a minor to sell his car for not less than Rs. 2.5Iacs. Q sells it for Rs. 2Iacs, whether P will be bound by the transaction or the transaction will be revoked?
Anonymous Quiz
35%
P will be bound to sell the car for Rs. 2lacs
41%
P will be liable to compensate the party involved, in case of revocation
20%
P will not be bounded by the transaction
4%
None of the above
👍1
22) A asks H to kill Z and promises to indemnify H against the consequences. H kills Z and is fined Rs.1000. Can H (indemnity holder) is able to claim the amount of Rs. 1000 from A (indemnifier)?
Anonymous Quiz
19%
Yes
73%
No
6%
Partly Yes & Partly No
3%
Can't say
23) Mr. Ramesh is an Indian citizen and he has stayed in India for a period of 170 days during the last immediately preceding calendar year, does he is eligible to incorporate One Person Company?
Anonymous Quiz
50%
Yes
45%
No
4%
Partly Yes
0%
Partly No
👍1
24) Mrs. Monali is a Chief Financial officer of M/s TATA Ltd. He is a relative of Ms. Sona who is a Chartered Accountant, who desires to appoint as auditor in M/s TATA Ltd. Whether Ms. Sona is eligible to appoint as auditor in M/s TATA Ltd.?
Anonymous Quiz
27%
Yes
68%
No
4%
Partly Yes
0%
Partly No
👍2
StudyCab
23) Mr. Ramesh is an Indian citizen and he has stayed in India for a period of 170 days during the last immediately preceding calendar year, does he is eligible to incorporate One Person Company?
The answer will be yes.
Residence status for formation of OPC also undergone change, instead of stay of 182 days in India, if a person is in India for 120 days or more, in preceding FY, he can be considered as Resident in India.
Sorry for the mistake.
Residence status for formation of OPC also undergone change, instead of stay of 182 days in India, if a person is in India for 120 days or more, in preceding FY, he can be considered as Resident in India.
Sorry for the mistake.
👍6😁2
A leave a cow in custody of B to be taken care of. The cow gives birth to a calf. What will be its consequences with context on contract of Bailment?
Anonymous Quiz
10%
B is only bound to deliver the cow
76%
B is bound to deliver the calf as well as the cow to A
12%
A is require to pay for the acquisition of calf from B
2%
A is require to pay for the acquisition of calf from B
"REVISE WITH CONCEPTS"
CA Inter Law Rapid Revision for Nov 2023 term examination.
This will boost your preparation and enhance your confidence 👍.
Class conducted by expert faculty CS Asif Ali sir
Starts on Oct 8
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CA Inter Law Rapid Revision for Nov 2023 term examination.
This will boost your preparation and enhance your confidence 👍.
Class conducted by expert faculty CS Asif Ali sir
Starts on Oct 8
Full assistance till exam
Book your seats now .
For registration - https://wa.me/919746808015