Auditing MCQs with Answers

A. Undervaluation of closing stock

B. Charging capital expenditure to revenue

C. Goods sent on consignment being shown as actual sales

D. Charging higher rates of depreciation on fixed assets than…

A. Capital redemption reserve

B. Security premium account

C. Debenture redemption reserve

D. Capital reserve

A. two

B. fifteen

C. five

D. ten

A. Expenses paid on installation of a plant.

B. Cost of dismantling a building in case a new building is to be constructed on the land

C. Legal expenses incurred to defend a suit related to title of patent.

D. The fees paid to engineer who constructed the plant.

A. Directors of the company

B. Members of the company

C. The Central Government

D. All of the above

A. With in one month of completion of capital subscription state of the company

B. With in one month of the promotion of the company

C. With in one month of the commencement of the business of the company

D. With in one month of incorporation of the company

A. the conclusion of statutory meeting

B. the conclusion of first annual general meeting

C. the conclusion of next annual general meeting

D. the date of removal

A. a general meeting

B. first annual general meeting

C. statutory meeting

D. annual general meeting

A. the shareholders in a general meeting

B. the shareholders in the first annual General meeting

C. the board of directors

D. the Central Government

A. Erstwhile director

B. Internal auditor

C. Relative of a director

D. Only (