B.Com In Banking & Insurance (BCBI) Sem V 2022 2023 Dec 2023 I AUDITING I Question Paper - Mumbai University | munotes

Questions asked in this paper

• N:B: 1.Attempt all Questions

1. Q2 Figures at Right indicate Marks
2. Q1 (A) Write TRUE or FALSE (Any 8) 8 marks
3. Q1 Audit should be conducted objectively
4. Q2 Continuous Audit is Costly
5. Q3 Error is intentional mistake in Financial statements
6. Q4 Audit working papers is property of client
7. Q5 Audit Planning is done before commencement of Audit
8. Q6 Window Dressing is done to show better position than actual
9. Q7 Test check reduces liability of Auditor
10. Q8 If fraud is detected ,auditor should neglect it 9 Integrity is the main quality of Auditor 10 In Valuation of stock, there should be consistency
    • (B) the Blank (ANY SEVEN) 7
11. Q1 Company Auditor is appointed by
12. Q2 For declaring Interim Dividend--------Audit is done
13. Q3 ------shows Tax Deducted at Source 4, -------is the Blueprint of Audit work to be done 5.---------is the part of Performance Audit
14. Q6 Audit Programme is prepared by 7.Generally Internal Audit is done by
15. Q8 Petty Cash is checked from 9 For Secured Loan by the company, Auditor should check
16. Q10 Auditor verify asset Building from
17. Q2 (A) What do you mean by Audit? What are Principles of Audit? 8 marks
    • (B) What are Qualities of Auditor? 7
    • (C) Write Note on Secret Reserve created by the Company. 8
    • (D) What is mean by Interim Audit? What are advantages of Interim Audit? 7
18. Q3 (A) Explain importance of Internal Control in company organization. 8 marks
    • (B) Distinguish between Internal Audit & Statutory Audit. 7
    • (C) What are points to be considered in Vouching. 8
    • (D) Write note on True & Fair concept. 7
19. Q4 (A) How Audit of following done? 8 marks
    • (B) Write note on Valuation of Stock 7
    • (C) How Auditor verify Purchases? 8
    • (D) How verification of Debtor done by Auditor? 7
20. Q5 Write short Note on (ANY THREE) 15 marks
21. Q1 Window Dressing
22. Q2 Essentials of Vouchers
23. Q4 Methods of Sampling
24. Q5 Compensating Errors
25. Q5 A) What is mean by Verification? What are its advantages? 8 marks
    • B) Write note on Audit of Secured Loan by the Company. 7

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