Most important auditing mcqs with answers for one paper auditing department test preparation online.
Auditing MCQs
Audit fess is a part of:
A. works on cost.
B. selling overhead.
C. distribution overhead.
D. administration overhead
IFRS 9 explains about:
A. Inventory
B. Accounts Payable
C. Accounts Receivable
D. Expenses
Scope of financial audit is:
A. Financial information
B. Non-financial information
C. Both (a) and (b)
D. None of these
Auditing engagement can be performed w.r.t:
A. Profit making entity
B. Non-profit making entity
C. Corporate entity only
D. Any entity
How many Standards on Auditing have been issued:
A. 32
B. 34
C. 36
D. 38
Which of these are types of Audit Report:
A. Unqualified opinion
B. Qualified opinion
C. Adverse opinion
D. Disclaimer of opinion.
All of above
Which one of the following may auditors NOT perform for their client:
A. Taking management decisions
B. Preparation of accounting records
C. Preparing tax computations
D. Advising on weaknesses
What sort of assurance is provided in a review engagement:
A. Positive assurance
B. Negative assurance
C. High level of assurance
D. No assurance
To test whether sales have been recorded, the auditor should draw a sample from a file of:
A. purchase orders
B. sales orders
C. sales invoices
D. bill of loading
Which of the following is a revenue reserve:
A. Capital redemption reserve
B. Security premium account
C. Debenture redemption reserve
D. Capital reserve
