Auditing MCQs with answers for test preparation. Auditing MCQs with answers PDF. Auditing question and answer for Senior Auditor, Junior Auditor and Accountant. Auditing MCQs for ppsc, fpsc, nts, etea, kppsc, spsc. Internal audit MCQs with answers for auditing tests online. Our MCQs cover a wide spectrum of auditing topics, including audit planning, internal audit, introduction to auditing, risk assessment, internal controls, audit evidence, and more. Accounting Mcqs
Which of the following will not lead to creation of secret reserve ?
A. Goods sent on consignment being shown as actual sales
B. Charging higher rates of depreciation on fixed assets than actually
C. Undervaluation of closing stock
D. Charging capital expenditure to revenueDepreciation does not arise form ?
A. use
B. remarket expectation
C. effluxion of time
D. obsolescence through technology be market changesWhich of the following is not a revenue expense ?
A. Expenses incurred for laying of sewers on land purchased
B. Insurance premium paid at the time of registration of the ship
C. Cost of raising a loan
D. Cost of accessories of motor vehicles spent at the time of purchaseWhich of the following affects audit effectiveness ?
A. Risk of incorrect acceptance
B. Risk of over reliance
C. Risk of incorrect rejection
D. A and BWhich of the following is not a corroborative evidence ?
A. Confirmations from debtors
B. Information gathered by auditor through observation
C. Worksheet supporting consolidated financial statements
D. Minutes of meetingsA statutory auditor has a right of access at all times to ?
A. Notices and documents of the company
B. Books, accounts and vouchers of the company
C. Books and accounts of a company
D. Books, accounts and documents of the companyWho out of the following cannot be appointed as a statutory auditor of the company ?
A. Internal auditor
B. Relative of a director
C. Erstwhile director
D. None of themAuthority to remove the first auditor before the expiry of term is with?
A. the Central Government
B. the shareholders in a general meeting
C. the shareholders in the first annual General meeting
D. the board of directorsIf a casual vacancy in the office of auditor arises by his resignation it should only be filled by the company in a ?
A. annual general meeting
B. General meeting
C. Board meeting
D. extraordinary general meetingTerm of the auditor ship of first auditor would be from the date of appointment till ?
A. the conclusion of next annual general meeting
B. the conclusion of statutory meeting
C. the conclusion of first annual general meeting
D. the date of removal