61) Which of the following is true regarding materiality?
Anonymous Quiz
25%
(a) It is unaffected by nature of an item.
29%
(b) It is unaffected by requirements of law or regulations.
14%
(c) It is not a matter of professional judgment.
32%
(d) It is not always a matter of relative size.
62) _______________ are needed to support the functioning of_________________
Anonymous Quiz
32%
(a) General IT Controls ; Application Controls
33%
(b) Application Controls ; General IT Controls
23%
(c) IT Dependent Controls ; General IT Controls
12%
(d) Application Controls ; IT Dependent Controls
63) Which of the following Audit testing methods is most effective as an audit test and gives the best audit evidence ?
Anonymous Quiz
20%
(a) Inquiry
25%
(b) Observation
43%
(c) Inspection
13%
(d) Reperformance
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
18%
(a) Data Mining
20%
(b) Data warehouse
41%
(c) Database
20%
(d) Data Analytics
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%
(a) Computer Assisted Audit Techniques
20%
(b) Automated Controls
48%
(c) Data Analytics
6%
(d) Combination Controls
66) Which of the following is a General IT control?
Anonymous Quiz
19%
(a) IT Environment
35%
(b) Application Control
22%
(c) Access Security
25%
(d) IT Dependent Control
67) Which of the following is the primary objective of management accounting:
Anonymous Quiz
8%
(a) To provide information to statutory bodies
24%
(b) To provide information to shareholders and investors for decision-making
10%
(c) To provide information to lenders and creditors for evaluation of credit risk
58%
(d) To provide information to management for planning and controlling
68) Which of the following is not a function of management accounting:
Anonymous Quiz
19%
(a) Identification and reporting of variances between the actual and the budgeted one.
30%
(b) Providing information to shareholders in their decision making
19%
(c) Provision of information for making better managerial decisions.
32%
(d) Computation and classification of costs for determination of costs.
69) Which of the following is Not true about the three-fold assumptions of cost reduction
Anonymous Quiz
12%
(a) There is possibility of saving in cost per unit.
17%
(b) Such saving is of temporary in nature.
20%
(c) The quality and utility of product remain unaffected.
51%
(d) All of the above three.
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70) Which of the following is true about cost control
Anonymous Quiz
23%
(a) It is a corrective function
26%
(b) It challenges the set standards
22%
(c) It ends when targets achieved
29%
(d) It is concerned with future
👍2
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NB - This lectures are recorded lectures of Dec 2023 attempt eventhough this will be usefull for the upcoming exam also. The revision includes questions discussion also.
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9746 8080 15
Special offer - Only 59 Rs/-
*Due to huge requests we extended offer of FA @ 59 /-. There will be no further extension, hence this will be the last chance to buy at this offer price*
Offer valid till - April 1 2024
Grab this opportunity and revise Financial Accounting
NB - This lectures are recorded lectures of Dec 2023 attempt eventhough this will be usefull for the upcoming exam also. The revision includes questions discussion also.
For enquiry
9746 8080 15
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