Question
Why funds are given to non-existent schools remains a
mystery but repeated appealsĀ to convert a school on paper to a real one has fallen on deaf ears. Directions (21-25) Read each sentence to find out whether there is any error in it. The error, if any, will be in one part of the sentence.Ā Ā If there is no error, mark the answer 5.Solution
have instead of has
Which of the following financial statements can be prepared using a receipt and payment account?
āGoods sent on approval basisā have been recorded as āCredit salesā. This is an example of:
During the audit of ABC Ltd., the auditor identifies that a major debtor who owed ā¹2 crore has declared bankruptcy post year-end but before signing of...
Process of verifying the documentary evidences of transactions are known as:
Which of the following best describes the principle of professional skepticism in auditing?
An auditor finds that significant information is missing from financial statements and the effect is material and pervasive. What type of audit opinion ...
Client has breached debt covenants; lender issued waiver valid for 9 months after balance sheet date. Auditor notes liquidity support from group company...
Which principle requires that the financial affairs of the business must be kept separate from the personal affairs of the owner(s)?
An auditor identifies a material misstatement due to fraud in financial statements. What should be his immediate course of action?
……… is an audit on a legal entity (the auditee) by two or more auditors to produce a single audit report, thereby sharing responsib...
