For accounts prepared on cash basis, in respect of gross receipts/expenditure, materiality percentage would be

Related MCQs

• Planning materiality may be taken at a lower figure than reporting materiality.
• The materiality thresholds depend on the ____ of accounts and their _____.
• The following types of financial statements are audited in respect of Union, State and UT Governments i Finance Accounts ii Appropriation Accounts iii Balance Sheet iv Statements of Expenditure
• Materiality is classified by
• There is a direct relationship between materiality level and the level of audit risk
• If the monthly accounts of some Treasuries or Public Works Divisions are excluded from the Accounts of a State Government, it affects this objective
• Reflecting all the transactions relating to the period of the accounts without regard to the actual date of payment or receipt is also called
• In the context of Government Accounts in India, the key feeder systems include:
• In the context of Government Accounts in India, the key feeder systems aslo include State Bank of India or any other public sector bank transacting Government Business on behalf of Reserve Bank of India
• If the financial statements properly present receipts and payments or give a true and fair view and have been prepared in accordance with relevant accounting requirements, the auditor