CA Foundation Business Economics Questions 2023 - Part 32
Fri, 03 Mar 2023
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Audit CPA exam Practice Questions 2023 - Part 10
1. The results of surprise checks
A) Are always to be included in audit report as these are always important
B) May or may not be included in audit report depending upon the quantitative nature of findings
C) Should be included in audit report if they are material and affecting the financial statements
D) All of these
2. Which of the following section of Companies Act, 2013 deals with requirement of internal audit in companies
A) Section 139
B) Section 138
C) Section 143
D) Section 148
3. â??â??â??-gives a birdâ??s eye view of the system and flow of transactions.
A) Narrative Records
B) Check List
C) Internal Control Questionnaire
D) Flow Chart
4. â??â??â??â??â??is mainly intended to ascertain whether the system of internal control is operating effective.
A) Surprise check
B) Analytical procedures
C) Test of details
D)
5. Which of the following statement is correct
A) Surprise check is a part of routine checking
B) Surprise check preferably done at least once during the audit
C) Surprise check cannot exercise good moral check on clientâ??s staff
D) It is necessary in all cases for the result of surprise check to be included in the audit report
A) Are always to be included in audit report as these are always important
B) May or may not be included in audit report depending upon the quantitative nature of findings
C) Should be included in audit report if they are material and affecting the financial statements
D) All of these
2. Which of the following section of Companies Act, 2013 deals with requirement of internal audit in companies
A) Section 139
B) Section 138
C) Section 143
D) Section 148
3. â??â??â??-gives a birdâ??s eye view of the system and flow of transactions.
A) Narrative Records
B) Check List
C) Internal Control Questionnaire
D) Flow Chart
4. â??â??â??â??â??is mainly intended to ascertain whether the system of internal control is operating effective.
A) Surprise check
B) Analytical procedures
C) Test of details
D)
5. Which of the following statement is correct
A) Surprise check is a part of routine checking
B) Surprise check preferably done at least once during the audit
C) Surprise check cannot exercise good moral check on clientâ??s staff
D) It is necessary in all cases for the result of surprise check to be included in the audit report
1. Right Answer: C
Explanation:
2. Right Answer: B
Explanation:
3. Right Answer: D
Explanation:
4. Right Answer: A
Explanation:
5. Right Answer: B
Explanation:
Explanation:
2. Right Answer: B
Explanation:
3. Right Answer: D
Explanation:
4. Right Answer: A
Explanation:
5. Right Answer: B
Explanation:
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