vu acc311 Final Term - Quiz No.10
vu acc311 Fundamentals of Auditing Quiz
This quiz belongs to book/course code vu acc311 Fundamentals of Auditing of vu organization. We have 18 quizzes available related to the book/course Fundamentals of Auditing. This quiz has a total of 10 multiple choice questions (MCQs) to prepare and belongs to topic Final Term. NVAEducation wants its users to help them learn in an easy way. For that purpose, you are free to prepare online MCQs and quizzes.
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Question 1: The __________ obtains information from management and those responsible for financial reporting
Auditor
Manager
Accountant
All of these
Question 2: The purpose of a __________ is to determine whether the entity is following specific procedures, rules or regulations set down by some higher authority.
Operational Audit
Compliance audit
Financial Statement Audit
All of these
Question 4: __________ and accounting are closely connected but both are separate activities
Management
Costing
Auditing
Reporting
Question 5: Examples of matters an auditor may consider include the following:
All of these
Employee performance measures and incentive compensation policies.
Key performance indicators
Key ratios and operating statistics
Question 6: In the light of this, ICAP's ethical guidelines emphasis the following key points about the characteristics of accountants:
Independence
Objectivity
Integrity
All of above
Question 7: An item of expenditure fairly chargeable to income shall be brought into __________
Management
Account
Staff
Business
Question 8: All these sections are part of __________
Transaction
Document
Voucher
Books of original entry/journal/day book
Books of secondary entry/ledger
Financial statement
Transaction
Document
Voucher
Books of original entry/journal/day book
Books of secondary entry/ledger
Financial statement
Assets
Business transaction
Account cycle
accounting
Question 9: Business Operations include
nature of business
product
Location
All of these
Question 10: The auditor may also conduct the audit in accordance with both ISAs and auditing standards of a specific __________ or country.
jurisdiction
city
regulations
None
