BCom In Accounting & Finance (BCAF) SEM II 2017 18 Oct 2017-18 AUDITING I Question Paper - Mumbai University | munotes

Questions asked in this paper

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1. Q1 A Select the correct alternative and re-write the statement (any eight ) is fundamental accounting assumption. ( materiality, going concern) 8 marks
2. Q2 When books of account are made in such way to show much worse condition than the actual it is called as ------- ( window dressing, secret reserve )
3. Q3 Working paper are the property of the ------ ( auditor )
4. Q4 SA----- deals with Audit planning. (300 ,320)
5. Q5 Audit technique of ------means a formal inquiry from outsiders. (Inquiry , confirmation)
6. Q6 Internal Auditor is appointed by ---------( management , shareholders )
7. Q7 Application of Audit procedure to less than 100% of items is termed as-------- check , is examination of accounts for specific purpose. ( auditing , investigation ) is usually in the form of a bound book. note book, audit report )
8. Q10 SA 570 deals with ----- ( audit planning , going concern ) B State whether the following statements are True or False and re-write the statement ( any seven) 07
9. Q1 Any type of error causes difference in the Trial Balance
10. Q2 Audit evidence is not conclusive in nature
11. Q3 The auditor like Bloodhound not watch dog
12. Q4 Audit plan is based on nature of client Business
13. Q5 Internal control helps in prevention of frauds and errors 6). Audit note book is part of working papers selection method of sampling is interval sampling
14. Q8 Developing the internal control system is Auditors responsibility
15. Q9 Internal Audit is carried out during the accounting work itself
16. Q10 Audited accounts are free from errors and frauds
17. Q2 Define fraud and explain the types of fraud. 15 marks
18. Q2 a) Auditing. Explain basic principles of auditing. of independent Audit? 07 8 marks
19. Q3 What is continuous audit and what are its Disadvantages? 8 marks
    • b). Briefly explain the importance of audit programme. 07
20. Q3 a) are the various methods used to obtain audit evidence? 8 marks
    • b) are the pre-considerations for audit sampling? 07
    • Q.P. Code :07266
21. Q4 a) Briefly explain the general consideration for framing the system of check. 8 marks
    • b) What do you mean by internal Audit? Explain its objectives. 07
22. Q4 a) Write the stages involved in the study and evaluation of internal control system. 8 marks
    • b) Distinguish between internal Auditor and statutory Auditor. 07
23. Q5 a) Explain the contents of audit notebook. 8 marks
    • b) What are the pre-audit considerations? 07
24. Q5 Write short notes ( any three) 15 marks
    • a) Window dressing
    • b) Going concern
    • c) Users of financial statements
    • d) Error of commission
    • e) Concurrent audit

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