Co-operative Management and Administration MCQs

M

Mr. Dubey • 51.17K Points
Coach

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.

(A) working papers
(B) audit note book
(C) audit programme
(D) both (a) and (b)
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M

Mr. Dubey • 51.17K Points
Coach

Q 2. ………………………….provides a guide in arranging and distributing the work and in checking against the possibility of omissions.

(A) audit programme
(B) working papers
(C) audit note book
(D) both (a) and (b)
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M

Mr. Dubey • 51.17K Points
Coach

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.

(A) audit programme
(B) working papers
(C) audit note book
(D) both (a) and (b)
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M

Mr. Dubey • 51.17K Points
Coach

Q 4. are lists of audit procedures to be performed by audit staff in order to obtain sufficient appropriate evidence.

(A) audit program
(B) working papers
(C) audit note book
(D) both (a) and (b)
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M

Mr. Dubey • 51.17K Points
Coach

Q 5. ………………… is a written record of queries made, replies furnished there against, correspondence entered into, observations made at the time of checking etc.

(A) audit note book
(B) working papers
(C) audit program
(D) both (a) and (b)
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M

Mr. Dubey • 51.17K Points
Coach

Q 6. The main object of audit today is to ……….

(A) find out whether the accounts of a particular concern exhibits a true and fair view of the financial state of affairs.
(B) to detect errors, fraud etc
(C) both (a) and (b)
(D) none of the above
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M

Mr. Dubey • 51.17K Points
Coach

Q 7. The word ‘Auditor’ is derived from the Latin word …………..meaning to hear.

(A) audire
(B) audio
(C) perceive
(D) to listen
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Mr. Dubey • 51.17K Points
Coach

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.

(A) fixed assets
(B) intangible assets
(C) fictitious assets
(D) floating assets
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M

Mr. Dubey • 51.17K Points
Coach

Q 9. In farming societies producing crops with an annual cycle the basis of valuation of by products may be …………………

(A) the selling price
(B) cost
(C) predetermined prices
(D) average prices
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M

Mr. Dubey • 51.17K Points
Coach

Q 10. In manufacturing and processing societies by-products may be valued at their ……………………..

(A) current ruling prices
(B) cost
(C) predetermined prices
(D) average price
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