CA Foundation Business Economics Questions 2023 - Part 32
Fri, 03 Mar 2023
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Audit CPA exam Practice Questions 2023 - Part 9
1. The frequency of surprise check is â??â??â??-
A) As prescribed under law
B) As mentioned under SA
C) To be determined by auditor
D) At least 5% of total time devoted to audit
2. â??â??â??â??â??-is a graphic presentation of each part of the entityâ??s internal controls system.
A) Narrative Records
B) Check List
C) Internal Control Questionnaire
D) Flow Chart
3. 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) None of these
4. How many Standards on Internal Auditing are issued by the AASB
A) 18
B) 20
C) 22
D) 24
5. Objectives of internal controls can only be reasonably achieved but not absolutely due to â??â??â??â??â??
A) Inherent limitation of audit
B) Inherent limitation of internal controls
C) Inherent risk
D) Detection risk
A) As prescribed under law
B) As mentioned under SA
C) To be determined by auditor
D) At least 5% of total time devoted to audit
2. â??â??â??â??â??-is a graphic presentation of each part of the entityâ??s internal controls system.
A) Narrative Records
B) Check List
C) Internal Control Questionnaire
D) Flow Chart
3. 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) None of these
4. How many Standards on Internal Auditing are issued by the AASB
A) 18
B) 20
C) 22
D) 24
5. Objectives of internal controls can only be reasonably achieved but not absolutely due to â??â??â??â??â??
A) Inherent limitation of audit
B) Inherent limitation of internal controls
C) Inherent risk
D) Detection risk
1. Right Answer: C
Explanation:
2. Right Answer: D
Explanation:
3. Right Answer: A
Explanation:
4. Right Answer: A
Explanation:
5. Right Answer: B
Explanation:
Explanation:
2. Right Answer: D
Explanation:
3. Right Answer: A
Explanation:
4. Right Answer: A
Explanation:
5. Right Answer: B
Explanation:
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