B.Com. (Accounting and Finance) SEM II 2012 2014 2014 AUDITING I Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 Primary objective of Auditing is Prevention of Detection of Errors = 2) Window dressing is a type of fraud
2. Q3 If an act is done unintentionally it is a fraud
3. Q4 If an act is done Intentionally it is an error
4. Q5 Vouching and verification are one and the same
5. Q6 In Bank Audit the type of Audit conducted is Continuous Audit
6. Q7 There is no difference between final Audit and Complete Audit Verification protects against improper Assets
7. Q9 Valuation is the duty of the Auditor
8. Q10 Auditing is derived from a French word
9. Q11 Auditing and Investigation are the same
10. Q13 Nonstatutory Audit is Compulsory for all organisations
11. Q14 Balance sheet Audit relates to items of the Balance sheet only
12. Q15 Vouching means checking the assets and Liabilities 3 (a) Define the terms Auditing and Vouching. 15 How will the auditor vouch the following
    • (a) What is Continuous Audit? What are its Advantages and Disadvantages
    • (b) Explain Various Objectives of Auditing
    • G) Statutory Audit and Non Statutory audit Gi) Final Audit and Continuous Audit Vouching and Verification Interpret the following Ledger Account:

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