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MCQs: The auditor has serious concern about the going concern of the company. It is dependent on company’s obtaining a working capital loan from a bank which has been applied for. The management of the company has made full disclosure of these facts in the notes to the balance sheet. The auditor is satisfied with the level of disclosure. He should issue___________?
Category: MBA Questions, Published by: teswesm
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MCQs: Which of the following is true about explanatory notes?
Category: MBA Questions, Published by: teswesm
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MCQs: The client changed method of depreciation from straight line to written down value method. This has been disclosed as a note to the financial statements. It has an immaterial effect on the current financial statements. It is expected, however, that the change will have a significant effect on future periods. Which of the following option should the auditor express?
Category: MBA Questions, Published by: teswesm
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MCQs: Which of the following documents is not relevant for vouching cash sales?
Category: MBA Questions, Published by: teswesm
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MCQs: To test whether sales have been recorded, the auditor should draw a sample from a file of__________?
Category: MBA Questions, Published by: teswesm
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MCQs: The auditor should examine subsequent realization of revenue such as dividends, interest,commission, etc to:_____________?
Category: MBA Questions, Published by: teswesm
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MCQs: What is meant by negative assurance?
Category: MBA Questions, Published by: teswesm
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MCQs: For companies required to produce interim financial statements (IFI):
Category: MBA Questions, Published by: teswesm
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MCQs: Which of the following statements is correct?
Category: MBA Questions, Published by: teswesm
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MCQs: What sort of assurance is provided in a review engagement?
Category: MBA Questions, Published by: teswesm
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MCQs: Which one of the following is part of the auditor’s function?
Category: MBA Questions, Published by: teswesm
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MCQs: Which of the following does NOT belong in the auditors’ report?
Category: MBA Questions, Published by: teswesm
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MCQs: What is meant by the expression ‘expectation gap’?
Category: MBA Questions, Published by: teswesm
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MCQs: Which of the following would you not use as a benchmark for comparison when undertaking analytical procedures?
Category: MBA Questions, Published by: teswesm
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MCQs: Which of the following is true about written representations?
Category: MBA Questions, Published by: teswesm
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MCQs: Which of the following statements is INCORRECT?
Category: MBA Questions, Published by: teswesm
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MCQs: An auditor should not accept a loan on favourable commercial terms from an audit client because of the threat to his or her independence. The threat would be a___________?
Category: MBA Questions, Published by: teswesm
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MCQs: Which of the following are fundamental ethical principles for professional accountants?
1 Competence
2 Compliance
3 Integrity
4 Objectivity
Category: MBA Questions, Published by: teswesm
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MCQs: Which one of the following may auditors NOT perform for their client?
Category: MBA Questions, Published by: teswesm
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MCQs: You have been proposed as auditor of a company. What is the first step that you should take?
Category: MBA Questions, Published by: teswesm
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