An error occurs due to negligence in recording the details of transaction, such errors are of clerical nature and are of wrong entries,wrong positioning,additions,transfer,etc.. is called

Related MCQs

• Errors occurring when generally accepted accounting principles are not observed while recording any transaction in the books of accounts
• The arrangement of duties of staff in such a manner, that the work of one person is automatically checked by another during the course of carrying out, recording and processing a transaction.
• The process of inspecting a document that supports a recorded transaction in order to verify the authority and authenticity of such a transaction
• “The process of inspecting documents that supports a recorded transaction in order to verify the authority and authenticity of such a transaction” is
• An arrangement of accounting routine that errors and frauds are automatically prevented or discovered by the very operation of bookkeeping itself is called
• ________is transaction in securities of the company by an insider on the basis of unpublished price sensitive information
• Management Audit assess the efficiency of management for third parties to commit funds for the business in situation such as –
• The governance flaws of collapsed companies may be happened due to
• The process of substantiation of assets and liabilities recorded in the books of accounts by physical inspection and examination of legal and official documents to form and expert opinion
• A systematic and independent examination of data ,statements,records,operations,and performance(financial or otherwise) for a stated purpose. In any auditing situation,the auditor perceives and recognizes the propositions before him for examination,collects evidence,evaluates the same and on the basis formulates his judgement which is,communicated through his audit report.” This definition is given by