Q. Which of the following is an element of the Audit Report
✅ Correct Answer: (D)
All of the above
Auditing Corporate Governance MCQs and Notes
Q. Forming an opinion on the financial statements the auditor‟s report shall be in
✅ Correct Answer: (A)
Writing
Q. The tenure of first auditor shall be from the date of appointment till
✅ Correct Answer: (A)
The conclusion of first annual general meeting
Q. In case of first auditor appointed by the board of directors, who would fix remuneration
✅ Correct Answer: (A)
Board of directors
Q. The elements of auditing includes –
✅ Correct Answer: (D)
All of the above
Q. Which of the following is an importance of vouching?
✅ Correct Answer: (D)
All the above
Q. In case of sales return, the auditor should check.
✅ Correct Answer: (D)
Credit notes and goods received notes.
Q. To verify cash transactions, it is necessary
✅ Correct Answer: (D)
All of the above.
Q. Voucher relates to _________.
✅ Correct Answer: (D)
All the above.
Q. This kind of audit is conducted generally between two annual audit ______.
✅ Correct Answer: (B)
Interim audit.