vu acc311 Final Term - Quiz No.11
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 2: Inherent Limitations of Accounting and Internal Control include
Management over rides
Collusion with employees
Collusion with third party
All of these
Question 3: If auditor fails to comply with the requirements of Sections 157, 255 or 257, he shall be punishable with fine up to __________
Rs. 100,000/
Rs. 200,000/
Rs. 300,000/
Rs. 400,000/
Question 5: International auditing standards are issued by the __________?
Auditing Practices Board
Auditing Practices Board
International Accounting Standards Board
International Federation of Accountants
International Standards Board
None
Question 6: Three types of audits are discussed in general, i.e.
Financial statement audits
Operational audits
Compliance audits
All of these
Question 8: The management is forced to adopt the Auditing process for avoiding the factors exists in financial statements EXCEPT?
Errors & Frauds
Inadvertently or deliberately misleading
Information showing company's current position
Unable to disclosed relevant information
Question 9: opinion improves __________ of financial statements
Importance
credibility
reality
awareness
Question 10: It depends upon the complexity of transactions and size of the business that what books of original entries are required to record the transactions.
Journal
Ledger
Trial Balance
Balancesheet
