Auditing Mcqs

Q.  Which of the following affects audit effectiveness?

a. Risk of over reliance
b. Risk of incorrect rejection
c. Risk of incorrect acceptance
d. Both A and C


ANSWER: See Answer
 
No explanation is available for this question!
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MCQs:  The basic assumption underlying the use of analytical procedures is:____________?
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MCQs:  What are analytical procedures?
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MCQs:  Which of the following is not an analytical procedure?
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MCQs:  When applying analytical procedures, an auditor could develop independent estimate of an account balance to compare it to­___________?
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MCQs:  What is the primary objective of analytical procedures used in the overall review stage of an audit?
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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 statements is, generally, correct about the reliability of auditevidence?
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MCQs:  Which of the following is not a corroborative evidence?
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MCQs:  Which of the following statements is not true with respect to management representations obtained as per AAS­11?
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MCQs:  Which of the following is not a revenue expense?
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MCQs:  Depreciation does not arise form _______
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MCQs:  Which of the following will not lead to creation of secret reserve?
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MCQs:  Which of the following is a revenue reserve?
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MCQs:  If the book value of an asset stands at________per cent of the original cost, a company need not provide depreciation on it.
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MCQs:  Which of the following expenses should not be treated as capital expenditure?
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MCQs:  Who is responsible for the appointment of statutory auditor of a limited company ?
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MCQs:  The board of directors shall appoint first auditor of a company
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MCQs:  The term of the auditor ship of first auditor would be from the date of appointment till________?
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MCQs:  In case the directions fail to appoint first auditor (s), the shareholders shall appoint them at_________by passing a resolution.
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