StudyCab

B) Certainly in financial statements

C) Conclusive evidence

56%

D) All of the above

128 voters1.24K views05:55

(a) Standards on Review Engagements

54) The management of company has engaged CA P to issue a duly signed report for
half year. Which of the following standards, if any, issued by ICAI are relevant for CA
P?

Anonymous Quiz

16%

39%

(b) Standards on Auditing

(d) There are no standards for issuing report in such situation.

👍2

89 voters1.28K views06:27

(a) Understanding of legal and regulatory framework of an entity

55) Which of the following is not considered in planning an audit generally?

Anonymous Quiz

16%

(b) Need to consider determination of materiality

36%

(d) Need to consider involvement of expert

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106 voters1.54K views05:34

56) ____________ along with other disciplines such as accounting and law, equips you with all the knowledge that is required to enter into auditing as a profession

Anonymous Quiz

115 voters1.72K views07:42

57) No business or institution can effectively carry on its activities without the help of proper..............................:

Anonymous Quiz

23%

(a) Audit

35%

(b) Record and accounts

11%

31%

(b) (d) both (a) and (b)

109 voters1.36K views06:07

58) An employee of Fruits and Vegetables Limited was of the opinion that auditor of a company is required to express an opinion. On which one of the following the auditor of a company is required to express an opinion:

Anonymous Quiz

(a) Only Balance Sheet of the Company.

67%

(b) Financial Statements of the Company.

(d) Only Cash Flow Statement of the Company.

89 voters1.23K views05:09

(a) She is establishing audit strategy.

59) Auditor is fact checking about promoters and key managerial persons. She is also
considering competence of staff to perform engagement. What is she trying to do?

Anonymous Quiz

49%

(b) She is conducting preliminary engagement activities.

26%

18%

(d) She is checking her compliance of ethical requirements.

74 voters1.23K views12:44

(a) Developing audit plan

60) Consideration of number and location of branches, requirements of financial reporting framework and expected time of completion are relevant factors primarily for which of the following -

Anonymous Quiz

26%

33%

(b) Establishing overall audit strategy

24%

17%

(d) Designing risk assessment procedures

70 voters1.29K views06:29

(a) It is unaffected by nature of an item.

61) Which of the following is true regarding materiality?

Anonymous Quiz

25%

29%

(b) It is unaffected by requirements of law or regulations.

14%

32%

(d) It is not always a matter of relative size.

95 voters1.28K views10:56

(a) General IT Controls ; Application Controls

62) _______________ are needed to support the functioning of_________________

Anonymous Quiz

32%

33%

(b) Application Controls ; General IT Controls

23%

(d) Application Controls ; IT Dependent Controls

78 voters1.43K views09:58

63) Which of the following Audit testing methods is most effective as an audit test and gives the best audit evidence ?

Anonymous Quiz

101 voters1.49K views05:04

64) _______________ is a logical subsystem within a larger information system where electronic data is stored in a predefined form and retrieved for use.

Anonymous Quiz

88 voters1.46K views09:07

(a) Computer Assisted Audit Techniques

65) _____________is the combination of processes, tools and techniques that are used to tap vast amounts of electronic data to obtain meaningful information:-

Anonymous Quiz

27%

20%

(b) Automated Controls

48%

(d) Combination Controls

90 voters1.48K views06:27

66) Which of the following is a General IT control?

Anonymous Quiz

19%

(a) IT Environment

35%

(b) Application Control

25%

(d) IT Dependent Control

118 voters1.59K views05:55

(a) To provide information to statutory bodies

67) Which of the following is the primary objective of management accounting:

Anonymous Quiz

24%

(b) To provide information to shareholders and investors for decision-making

10%

58%

(d) To provide information to management for planning and controlling

116 voters1.76K views05:59

(a) Identification and reporting of variances between the actual and the budgeted one.

68) Which of the following is not a function of management accounting:

Anonymous Quiz

19%

30%

(b) Providing information to shareholders in their decision making

19%

32%

(d) Computation and classification of costs for determination of costs.

117 voters1.97K views05:42

69) Which of the following is Not true about the three-fold assumptions of cost reduction

Anonymous Quiz

(a) There is possibility of saving in cost per unit.

17%

(b) Such saving is of temporary in nature.

20%

51%

(d) All of the above three.

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146 voters2.37K views08:11

(a) It is a corrective function

70) Which of the following is true about cost control

Anonymous Quiz

23%

26%

(b) It challenges the set standards

(d) It is concerned with future

29%

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215 voters2.37K views06:44