M. Com.(Semester III) (CBCS) Examination Oct/Nov-2017
ADVANCED ACCOUNTANCY III
WateriI
Day Date: Tuesday, 21-11-2017 Max. Marks: 70
Time: 02.30 PM to 05.00 PM
Instructions: All question are compulsory
Figures to right indicate full marks
Q.1 Choose the correct alternative given in the bracket. 14
The is done after the entity's Financial year.
Internal Final
Balance audit All the above
A sale of Rs. 50,000 to A was entered as a sale to B. This is an example of


Error of commission Error of commission
Compensating error Error of principle
Which of the following is not a limitation of audit as per AAS4?
Objectivity of auditor's judgment
Selective testing
Persuasiveness of evidence.
Limitations of internal control system.
In India, balance sheet audit is synonymous to
Annual audit Continuous audit
Detailed audit Statutory audit
Audit in depth is synonymous
Complete audit Completed audit
Final audit Detailed audit
The working papers which auditor prepares for financial statements audit

Evidence for audit conclusions
Owned by the client
Owned by the auditor
Retained in auditor's office until a change in auditors
Which of the following is a revenue reserve?
Capital redemption reserve
Security premium account
Debenture redemption reserve
Capital reserve
In case the directions fail to appoint first auditor the shareholders shall
appoint them at by passing a resolution.
A general meeting First annual general meeting
Statutory meeting Annual general meeting
The section 44B is dealt
Balance Audit Tax Audit
Cost Audit Social Audit
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SLR-CK-12
10) The audit which is a comprehensive critical review of all aspects of process
of management known
Tax audit Final audit
Cost audit Management audit
11) Right to visit branches has been given to the auditor under which section?
Section 222(3) Section 228(2)
Section 228(4) Section 228(3)
12) A cost auditor is to be appointed by the
Board of Directors with prior approval of the Central Government
Shareholders
Management
None of the above
13) A report bearing qualification is known
Unqualified report Plain report
Clean report Qualified report
14) Management audit
Statutory Optional
Necessary None of the above
Q.2 Write answer in brief: 14
Cost Audit.
Advantages of Internal Check
Q.3 Write answer in brief: 14
Statutory Audit.
Objectives of Vouching.
Q.4 Answer any one: 14
Define, advantages limitations of Audit Program.
Explain the points which are consider before commencement of new audit
by the auditor
Q.5 Answer any one: 14
Define auditing and explain the objectives of auditing.
What are the Rights powers of an auditor? Explain in details.