M.Com. (Semester (CBCS) Examination Mar/Apr-2018
ADVANCED ACCOUNTANCY (Paper II)
Time: 2½ Hours
Max. Marks: 70
Instructions: All questions are compulsory. Figures to the right indicate full marks.
Q.1
Choose the alternatives given below.
14
Audit programme is
Auditors plan of action
Audit report
Audit note
All of these
The internal auditor can be removed by
Share holders
Chairman
Management
None of these
To verify authenticity and authority of transaction is the main object of
Vouching
Testing
Internal check
Internal audit
The audit clerk cannot remember everything at all times during the course of audit, he experiences several difficulties and hence, he maintains a book with him popularly known as
Audit programme
Audit note book
Audit file
Audit book
The internal auditors are
Government servant
Employees of the concern
Agents
Advisor
Which of the following is an error of principle?
Deleting transaction to record in journal
Wrong totaling in ledger
Recording purchase of office furniture in profit and loss account
None of these
Fraud means
Mistake
Misuse
False representation
All of these
The judgment that an auditor is not a valuer was given in
McKesson and Robbins case
Kingston cotton mills case
London and General Bank case
None of the above
Test checking is
Testing evidence
Vouching
Checking of few items selected through a process of sampling
None of these
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SLR-CX-7
10) When a transaction is wholly or partly omitted to be recorded, such error is called
Error of principle
Error of commission
Compensating error
None of these
11) An error is one which is counter balanced by any other error or series of error is known as
Compensating error
Error of commission
Error of principle
Error of omission
12) Which of the following is said to be the back bone of auditing?
Verification
Vouching
Questionnaire
None of these
13) The audit starts where ends
Internal control
Book keeping
Internal check
Accountancy
14) The selection of transaction is made for test checking
According to plan
As per rule
Random
As per future strategy
Q.2
Write short notes.
Joint audit
07
Audit of branches
07
Q.3
Answer the following in brief:
Write a note of 'Audit Programme'.
07
Write a note on Internal Audit and External Audit.
07
Q.4
Answer any one of the following.
14
How would you verify the following?
Goodwill
Cash in hand
Investment
Land and building
Define vouching and explain need and importance of vouching.
Q.5
Answer any one of the following.
14
Define internal control and explain characteristics of good internal control.
OR
Define auditing and explain the objectives of audit.