[Solved] Which of the following statements are true?

McqMate

Q.	Which of the following statements are true?
A.	The Union and State Governments follow cash based accounting while Corporations and autonomous bodies mainly follow accrual based accounting
B.	The Union and State Governments follow accrual based accounting while Corporations and autonomous bodies mainly follow cash based accounting
C.	The Union and State Governments and Corporations and autonomous bodies follow accrual based accounting
D.	The Union and State Governments and Corporations and autonomous bodies follow cash based accounting
Answer» A. The Union and State Governments follow cash based accounting while Corporations and autonomous bodies mainly follow accrual based accounting

1.9k

0

Do you find this helpful?

6

View all MCQs in

Financial Attest Audit Manual

Discussion

No comments yet

Related MCQs

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
Which of the following statements is true about Precision
Which of the following statements is True?
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
Which of the following statements is false?
Which of the following statements is false?
Which of the following is True?
Financial (attest) audit is primarily concerned with expression of audit opinion on a set of financial statements.
Transaction audit is linked to a specific assurance on an individual set of financial Statements in a particular year
Risks of financial irregularity are always material for the purpose of qualifying audit opinion on the finanicial statements