McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Commerce (B Com) .
Chapters
| 1. |
A company auditor can be removed before expiry of his term by |
| A. | Shareholders |
| B. | Board of Directors |
| C. | Central Government |
| D. | State Government |
| Answer» A. Shareholders | |
| 2. |
A continuous audit is specially needed for |
| A. | Any trading concern |
| B. | Smaller concerns |
| C. | Banking companies |
| D. | Any manufacturing companies |
| Answer» C. Banking companies | |
| 3. |
Propriety audit refers to |
| A. | Verification of accounts |
| B. | Examination accounts of propriety concerns |
| C. | Enquiry against justification and necessity of expresses |
| D. | Audit of Govt. companies |
| Answer» C. Enquiry against justification and necessity of expresses | |
| 4. |
Final audit implies |
| A. | Audit of accounts at the end of the year |
| B. | Finally checking of accounts to reveal frauds |
| C. | Audit for submitting report immediately at the end of the year |
| D. | Audit of banking companies |
| Answer» A. Audit of accounts at the end of the year | |
| 5. |
Management audit means |
| A. | Audit undertaken on behalf of the management |
| B. | Evaluating performance of various management processes and functions |
| C. | Audit undertaken on behalf of Govt. to punish management |
| D. | Compulsory audit |
| Answer» B. Evaluating performance of various management processes and functions | |
| 6. |
A special auditor is appointed by the |
| A. | Shareholders |
| B. | Board of Directors |
| C. | Central Government |
| D. | C & A – G |
| Answer» C. Central Government | |
| 7. |
A government Co. auditor may be appointed by the |
| A. | C & A – G |
| B. | Shareholders |
| C. | Central Government |
| D. | None of the above |
| Answer» A. C & A – G | |
| 8. |
Auditor should be dutiful like a |
| A. | A watch dog |
| B. | A blood hound |
| C. | A detective |
| D. | An insurer |
| Answer» A. A watch dog | |
| 9. |
--------------- audit is forward looking – |
| A. | Financial |
| B. | Cost |
| C. | Tax |
| D. | none |
| Answer» B. Cost | |
| 10. |
Audit under any statute in a country is called ------------------ |
| A. | Final audit |
| B. | Internal audit |
| C. | Statutory audit |
| D. | none |
| Answer» C. Statutory audit | |
| 11. |
-------------------- audit is not a statuary requirement |
| A. | Management |
| B. | Financial |
| C. | Tax Audit |
| D. | none |
| Answer» A. Management | |
| 12. |
---------------- audit is compulsory for joint stock companies |
| A. | Statutory |
| B. | Final |
| C. | Continuous |
| D. | none |
| Answer» A. Statutory | |
| 13. |
Deduction under section 80-HHE is related to : |
| A. | Export of computer software, technical services outside India. |
| B. | Foreign projects. |
| C. | Business of exports. |
| D. | Backwards industries |
| Answer» A. Export of computer software, technical services outside India. | |
| 14. |
Form 3-CB is used for : |
| A. | Truth and fairness of Accounts. |
| B. | Filled in the case of compulsory Audit. |
| C. | Filled by Special Business. |
| D. | Filled by government organizations. |
| Answer» A. Truth and fairness of Accounts. | |
| 15. |
Deduction under section 35-D is related to: |
| A. | Preliminary Expenses |
| B. | Foreign projects. |
| C. | Business of exports. |
| D. | Backwards industries. |
| Answer» A. Preliminary Expenses | |
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