McqMate
| Q. |
Which of the following statements with regard to rules regarding exemption from branch audit is not true? |
| A. | A branch office of a company can be granted exemption on the basis of quantum of activity criterion |
| B. | If a satisfactory arrangement of scrutiny check of the books of account of a branch office of a manufacturing company has been made, it can be exempted from branch audit |
| C. | Cost consideration should be considered as an important factor/ground for exemption from branch audit |
| D. | The auditor should state in his audit report that branch office is exempted by virtue of quantum of activity or any other basis |
| Answer» B. If a satisfactory arrangement of scrutiny check of the books of account of a branch office of a manufacturing company has been made, it can be exempted from branch audit | |
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