Accounting Mcqs


Q.  Cash discount is allowed on _______ repayment of debt.

a. Lump sum
b. Prompt
c. Actual
d. None of them


ANSWER: See Answer
 
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MCQs:  ____________ is a systematic examination of the books and records or a business?
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MCQs:  The term ‘Audit’ is derived from a Latin word “audire” which means___________?
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MCQs:  The main object of an audit is _____________?
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MCQs:  An auditor is like a_______________?
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MCQs:  Process of verifying the documentary evidences of transactions are known as___________?
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MCQs:  Auditing is compulsory for____________?
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MCQs:  Concealment of shortage by delaying the recording of cash receipts is known as_____________?
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MCQs:  The fundamental objective of the audit of a company is to_____________?
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MCQs:  The concept of stewardship means that a company’s directors________________?
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MCQs:  Why do auditors concentrate their efforts on material items in accounts?
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MCQs:  Which of the following is NOT the responsibility of a company’s directors?
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MCQs:  International auditing standards are issued by the______________?
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MCQs:  Which of the following is not true about opinion on financial statements?
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MCQs:  When an auditor is proposed for removal from office, which one of the following is he NOT permitted to do?
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MCQs:  Which one of the following is NOT a duty of the auditor?
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MCQs:  Assuming that it is not the first appointment of the auditor, who is responsible for the appointment of the auditor?
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MCQs:  The independent auditor’s primary responsibility is to______________?
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MCQs:  How long is the auditor’s term of office?
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MCQs:  Which of the following is correct in relation to materiality?
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MCQs:  Which one of the following is NOT considered to be part of planning?
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