B.Com. LL.B. (Five Years) Sem 3 Principles and Practice of Auditing 2021 Mar Question Paper - KSLU

Questions asked in this paper

1. Q1 (a) Distinguish between Accountancy and Auditing.
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2. Q1 (b) Write a note on significance of Tax Audit.
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1. Q2 (a) Explain various objectives of Auditing.
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2. Q2 (b) Write a note on Cost Audit and Management Audit.
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1. Q3 (a) What do you mean by internal audit ? Explain its pros and cons.
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2. Q3 (b) Write a short note on internal check on purchase.
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1. Q4 (a) Explain internal control and its objective.
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2. Q4 (b) Write a note on internal check for cash sales.
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1. Q5 (a) 'Vouching is the essence of auditing'. Explain.
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2. Q5 (b) Explain the types of vouchers.
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1. Q6 (a) Explain the following : (i) Cash sales (ii) Receipts from debtors (iii) Cash purchase (iv) Payment to creditors.
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2. Q6 (b) Write a short note on Routine checking and vouching.
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1. Q7 (a) How do you verify the following assets ? (i) Goodwill (ii) Land and Building (iii) Plant and Machinery (iv) Investment
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2. Q7 (b) State the points to be remembered by auditor in verifying assets.
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1. Q8 (a) Explain the ways to verify the liabilities of Balance Sheet by an auditors.
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2. Q8 (b) What do you mean by valuation and verification of assets ?
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1. Q9 (a) In what circumstances do you think an auditor is criminally liable ? Discuss.
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2. Q9 (b) Analyse the audit procedure of a co-operative institution/society.
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1. Q10 (a) Explain the audit procedure of insurance company.
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2. Q10 (b) What according to you is civil liability of an auditor ? Discuss.
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Typed from the KSLU paper above. The paper is the original. Long reading passages are shortened here to their first and last lines and a summary.