CA Foundation Business Economics Questions 2023 - Part 32
Fri, 03 Mar 2023
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Audit CPA exam Practice Questions 2023 - Part 11
1. Company shall comply with requirement of section 138 of the Companies Act, 2013 w.r.t. internal audit within â??â??months from applicability of the section.
A) 2
B) 3
C) 6
D) 8
2. Section 138 of the Companies Act, 2013 shall apply to â??â??â??
A) Listed Company
B) Prescribed class of companies
C) Both (a) & (b)
D) All the companies
3. Internal financial controls are policies and procedures adopted by company for â??â??
A) Ensuring the orderly and efficient conduct of its business, including adherence to companyâ??s policies
B) The safeguarding of assets
C) The prevention and detection of frauds and errors
D) All of these
4. â??â??â??â??â??is a series of instruction and questions which the auditor should follow and answer.
A) Narrative Records
B) Check List
C) Internal Control Questionnaire
D) Flow Chart
5. â??â??â??â??-is a complete and exhausted description of the system as found in operation by the auditors
A) Check List
B) Flow Chart
C) Narrative Records
D) Internal Control Questionnaire
A) 2
B) 3
C) 6
D) 8
2. Section 138 of the Companies Act, 2013 shall apply to â??â??â??
A) Listed Company
B) Prescribed class of companies
C) Both (a) & (b)
D) All the companies
3. Internal financial controls are policies and procedures adopted by company for â??â??
A) Ensuring the orderly and efficient conduct of its business, including adherence to companyâ??s policies
B) The safeguarding of assets
C) The prevention and detection of frauds and errors
D) All of these
4. â??â??â??â??â??is a series of instruction and questions which the auditor should follow and answer.
A) Narrative Records
B) Check List
C) Internal Control Questionnaire
D) Flow Chart
5. â??â??â??â??-is a complete and exhausted description of the system as found in operation by the auditors
A) Check List
B) Flow Chart
C) Narrative Records
D) Internal Control Questionnaire
1. Right Answer: C
Explanation:
2. Right Answer: C
Explanation:
3. Right Answer: D
Explanation:
4. Right Answer: B
Explanation:
5. Right Answer: C
Explanation:
Explanation:
2. Right Answer: C
Explanation:
3. Right Answer: D
Explanation:
4. Right Answer: B
Explanation:
5. Right Answer: C
Explanation:
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