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Auditing MCQs with Answers

This is Auditing MCQs section with detailed explanations for preparation of screening tests, interviews for government jobs. In this section candidate will learn MCQs on variety of topics from the subject.

  1. 1 ____________ is a systematic examination of the books and records or a business
    1. Auditing

    2. Vouching

    3. Verification

    4. Checking

    See Answer

    Added By: Ak Aamir

  2. 2 The term Audit is derived from a Latin word audire which means___________
    1. To inspect

    2. To examine

    3. To hear

    4. To investigate

    See Answer

    Added By: Ak Aamir

  3. 3 The main object of an audit is _____________
  4. 4 An auditor is like a_______________
  5. 5 Process of verifying the documentary evidences of transactions are known as___________
    1. Auditing

    2. Testing

    3. Vouching

    4. Verification

    See Answer

    Added By: Ak Aamir

  6. 6 Auditing is compulsory for____________
    1. Small scale business

    2. Partnership firms

    3. Joint stock Companies

    4. Proprietary Concerns

    See Answer

    Added By: Ak Aamir

  7. 7 Concealment of shortage by delaying the recording of cash receipts is known as_____________
    1. Embezzlement

    2. Misappropriation

    3. Lapping

    4. None of these

    See Answer

    Added By: Ak Aamir

  8. 8 The fundamental objective of the audit of a company is to_____________
  9. 9 The concept of stewardship means that a companys directors________________
  10. 10 Why do auditors concentrate their efforts on material items in accounts