B.Com In Banking & Insurance (BCBI) Sem V April 2024 April 2024 Auditing I Question Paper - Mumbai University | munotes

Questions asked in this paper

• Please check whether you have got the right question paper
• 3. Figures to the right indicate

1. Q1 A) Select the most appropriate answer alternatives given below and rewrite the sentences: (any eight) (08)
   • 1. After examination of records the auditor has to communicate his judgment to
   • a) Shareholders b) Board of Directors
   • 2. Audit plan should-be based on client’s
   • a) Business b) Profits
   • 3. -Special audit can be ordered by
   • a) Central Government. b) State Government:
   • c) Municipality, d) Grampanchayat
   • 4. Independent auditor may apply
   • 5., Remuneration of Internal Auditor is fixed by
   • a) Management b) Shareholders
   • b) State Government d) Central Government
   • 6. The auditor will examine sales invoice for vouching Random sampling is
   • 9. While developing audit programme the following factors should be considered
   • a) Audit Note Book b) Letter of Communication
   • 10. Arrears of Pref. dividend is a
   • B) Rewrite the complete sentence and state is true or false:- (any seven)
   • 1. Audit Should be systematically planned
   • 2. Audit Note Book is maintained by an auditor
   • 3. Petty cash expenses are verified from petty cash voucher
   • 5. SA 530 deals with Audit sampling
   • 7. Internal audit increases-chances of fraud
   • 8. Loose Tools should be disclosed-under fixed-assets
   • 9. Sampling is an important audit technique
   • 10. detects all errors & frauds
2. Q2 a) Define the term ‘Auditing’. Explain scope of auditing. 8 marks
   • b) Explain types of fraud. Explain Interim Audit and explain advantages of interim audit. (08) 7
   • d) Explain distinguish between Internal Audit-and Statutory Audit. 7
   • a) distinguish between Working Papers and Audit Note Book 8
   • b) What are the Contents of Audit Programme? 7
   • c) Write a distinguish between Test Checking and Routing Checking 8
   • d) What are the limitations of Internal Control? 7
   • a) How would you vouch ‘Salaries’? 8
   • b) How would you vouch Credit purchases? 7
3. Q4 c)What are the objectives of Vouching? 8 marks
   • d) How would you vouch Cash Sales? 7
4. Q5 a) How would you verify ‘Outstanding Expenses’? 8 marks
   • b) How would ‘Copy Rights’? 7
5. Q5 Write short notes on the followings: (any three) 15 marks
   • i) True View
   • ii) Audit.in depth
   • iv) Essentials of voucher
   • v) Verification

Read from the scan above, so a character or two may differ. The scan is the original.