The fundamental objective of the audit of a company is to_____________?
A. Protect the interests of the minority holders
B. Detect and prevent errors and fraud
C. Assess the effectiveness of the company’s performance
D. Attest to the credibility of the company’s accounts
Concealment of shortage by delaying the recording of cash receipts is known as_____________?
A. Embezzlement
B. Misappropriation
C. Lapg
D. None of these
Auditing is compulsory for____________?
A. Small scale business
B. Partnership firms
C. Joint stock Companies
D. Proprietary Concerns
Process of verifying the documentary evidences of transactions are known as___________?
A. Auditing
B. Testing
C. Vouching
D. Verification
An auditor is like a_______________?
A. Blood haunt
B. Watch dog
C. May both according to situation
D. None of these
The main object of an audit is _____________?
A. Expression of oion
B. Detection and Prevention of fraud and error
C. Both (A) and (B)
D. Depends on the type of audit.
The term ‘Audit’ is derived from a Latin word “audire” which means___________?
A. To inspect
B. To examine
C. To hear
D. To investigate
____________ is a systematic examination of the books and records or a business?
A. Auditing
B. Vouching
C. Verification
D. Checking