CA Foundation Business Economics Questions 2023 - Part 32
Fri, 03 Mar 2023
Inspirational journeys
Follow the stories of academics and their research expeditions
Audit CPA exam Practice Questions 2023 - Part 4
1. During the course of audit of intangible assets, expenditure incurred during following phase is generally not capitalized:
A) Development phase
B) Research phase
C) None of the above
D) Both (a) & (b)
2. Which of the following document is not relevant for vouching of cash sales?
A) Daily cash sales summary
B) Salesmanâ??s summary
C) Monthly statements sent to customers
D) Bank Statement
3. Obtaining trade receivables ageing report and identification of doubtful debts is performed during audit of accounts receivable balances to address the following balance sheet assertion
A) Valuation
B) Rights and obligations
C) Existence
D) Completeness
4. Wages paid to workers would always qualify as :
A) Revenue expenditure
B) Capital expenditure
C) Revenue or capital expenditure depending upon facts and circumstances
D) None of the above
5. Which of the following would give the assurance that debtors mentioned on the date of balance sheet actually exist?
A) Sending debtorâ??s confirmation letters
B) Reviewing subsequent collection
C) Verify debtors against sales document
D) Both (a) & (b)
A) Development phase
B) Research phase
C) None of the above
D) Both (a) & (b)
2. Which of the following document is not relevant for vouching of cash sales?
A) Daily cash sales summary
B) Salesmanâ??s summary
C) Monthly statements sent to customers
D) Bank Statement
3. Obtaining trade receivables ageing report and identification of doubtful debts is performed during audit of accounts receivable balances to address the following balance sheet assertion
A) Valuation
B) Rights and obligations
C) Existence
D) Completeness
4. Wages paid to workers would always qualify as :
A) Revenue expenditure
B) Capital expenditure
C) Revenue or capital expenditure depending upon facts and circumstances
D) None of the above
5. Which of the following would give the assurance that debtors mentioned on the date of balance sheet actually exist?
A) Sending debtorâ??s confirmation letters
B) Reviewing subsequent collection
C) Verify debtors against sales document
D) Both (a) & (b)
1. Right Answer: B
Explanation:
2. Right Answer: C
Explanation:
3. Right Answer: A
Explanation:
4. Right Answer: C
Explanation:
5. Right Answer: D
Explanation:
Explanation:
2. Right Answer: C
Explanation:
3. Right Answer: A
Explanation:
4. Right Answer: C
Explanation:
5. Right Answer: D
Explanation:
Tags:
certified management business standard web supply chain process concept quality industry organization guarantee warehouse storage audit factory company digital system guidelines requirement technology legal order export worker law manufacturing tablet office data corporate best import display compliant instruction compliance regulation mockup monitor agency policy table computer screen logistics regulatory administration supply0 Comments
Categories
Recent posts
CA Foundation Business Economics Questions 2023 - Part 31
Fri, 03 Mar 2023
CA Foundation Business Economics Questions 2023 - Part 30
Fri, 03 Mar 2023
Leave a comment