Q. …………….. are those papers which contain essential facts about the accounts so that the auditors may not have again to go over the accounts.
✅ Correct Answer: (A)
working papers
Co-operative Management and Administration MCQs and Notes
Q. ………………………….provides a guide in arranging and distributing the work and in checking against the possibility of omissions.
✅ Correct Answer: (A)
audit programme
Q. …………………………. is a detailed plan of the auditing work to be performed, specifying the item in the financial statements and allocating tentative time required.
✅ Correct Answer: (A)
audit programme
Q. are lists of audit procedures to be performed by audit staff in order to obtain sufficient appropriate evidence.
✅ Correct Answer: (A)
audit program
Q. ………………… is a written record of queries made, replies furnished there against, correspondence entered into, observations made at the time of checking etc.
✅ Correct Answer: (A)
audit note book
Q. The main object of audit today is to ……….
✅ Correct Answer: (A)
find out whether the accounts of a particular concern exhibits a true and fair view of the financial state of affairs.
Q. The word ‘Auditor’ is derived from the Latin word …………..meaning to hear.
✅ Correct Answer: (A)
audire
Q. ……………are certain assets which represent capital expenditure which may not have resulted in identifiable profit earning assets and which still remain to be written off.
✅ Correct Answer: (C)
fictitious assets
Q. In farming societies producing crops with an annual cycle the basis of valuation of by products may be …………………
✅ Correct Answer: (A)
the selling price
Q. In manufacturing and processing societies by-products may be valued at their ……………………..
✅ Correct Answer: (A)
current ruling prices