Co-operative Management and Administration MCQs and Notes
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Q 1. …………….. are those papers which contain essential facts about the accounts so that the auditors may not have again to go over the accounts.
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Q 2. ………………………….provides a guide in arranging and distributing the work and in checking against the possibility of omissions.
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Q 3. …………………………. is a detailed plan of the auditing work to be performed, specifying the item in the financial statements and allocating tentative time required.
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Q 4. are lists of audit procedures to be performed by audit staff in order to obtain sufficient appropriate evidence.
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Q 5. ………………… is a written record of queries made, replies furnished there against, correspondence entered into, observations made at the time of checking etc.
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Q 6. The main object of audit today is to ……….
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Q 7. The word ‘Auditor’ is derived from the Latin word …………..meaning to hear.
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Q 8. ……………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.
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Q 9. In farming societies producing crops with an annual cycle the basis of valuation of by products may be …………………
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Q 10. In manufacturing and processing societies by-products may be valued at their ……………………..
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