Auditing Mcqs

Q.  According to ISA 500, the strength of audit evidence is determined by which two qualities?

a. Appropriateness & competence
b. Sufficiency & appropriateness
c. Reliability & extensiveness
d. Objectivity & independence


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MCQs:  Which of the following statements is most closely associated with analytical procedure applied at substantive stage?
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MCQs:  Verification refers to_________?
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MCQs:  Stock should be valued at_________?
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MCQs:  Floating assets are valued at____________?
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MCQs:  Goods sold on the basis of ‘sales or return ‘ should:
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MCQs:  Of the following, which is the least persuasive type of audit evidence?
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MCQs:  Which of the following statements is, generally, correct about the reliability of audit evidence?
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MCQs:  In an audit of financial statements, substantive tests are audit procedures that __________?
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MCQs:  The nature, timing and extent of substantive procedures is related to assessed level of control risk
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MCQs:  Which of the following factors is most important in determining the appropriations of audit evidence?
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MCQs:  When is evidential matter, generally, considered sufficient?
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MCQs:  Which of the following is not corroborative evidence?
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MCQs:  What would most appropriately describe the risk of incorrect rejection in terms of substantive testing?
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MCQs:  Which of the following affects audit effectiveness?
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MCQs:  What would most effectively describe the risk of incorrect acceptance in terms of substantive audit testing?
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MCQs:  Audit programme is prepared by____________?
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MCQs:  The working papers which auditor prepares for financial statements audit are___________?
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MCQs:  The quantity of audit working papers complied on engagement would most be affected by__________?
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MCQs:  Which of the following best describes the primary purpose of audit programme preparation?
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MCQs:  Which of the following is not an advantage of the preparation of working paper?
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