A. purchase orders
B. sales orders
C. sales invoices
D. bill of loading
Related Mcqs:
- Assuming that it is not the first appointment of the auditor, who is responsible for the appointment of the auditor?
A. The shareholders in a general meeting
B. The managing director
C. The board of directors in a board meeting
D. The audit committee - The term of the auditor ship of first auditor would be from the date of appointment till________?
A. the conclusion of statutory meeting
B. the conclusion of first annual general meeting
C. the conclusion of next annual general meeting
D. the date of removal - 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___________?
A. unqualified opinion
B. unqualified opinion with reference to notes to the accounts
C. qualified opinion
D. disclaimer of opinion - The auditor’s permanent working paper file should not normally, include__________?
A. Extracts from client’s bank statements
B. Past year’s financial statements
C. Attorney’s letters
D. Debt agreements - The current file of the auditor’s working papers, generally, should include____________?
A. A flowchart of the internal controls
B. Organisation charts
C. A copy of financial statements
D. Copies of bond and debentures - Goods sent on approval basis’ have been recorded as ‘Credit sales’. This is an example of____________?
A. Error of principle
B. Error of commission
C. Error of omission
D. Error of duplication - How long is the auditor’s term of office?
A. Until the audit is complete
B. Until the financial statements are complete
C. Until the next AGM (Annual General Meeting)
D. Until the directors remove them - When applying analytical procedures, an auditor could develop independent estimate of an account balance to compare it to___________?
A. client’s unedited account balance
B. client’s unedited account balance adjusted for trends in the industry
C. Prior year audited balance
D. Prior year audited balance adjusted for trends in the industry - Who is responsible for the appointment of statutory auditor of a limited company ?
A. Directors of the company
B. Members of the company
C. The Central Government
D. All of the above - 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?
A. Unqualified opinion
B. Qualified opinion
C. Disclaimer of opinion
D. Adverse opinion
