BCom SY BCom Sem 4 BCom Sem 4 (2017 2018) April 2018 AUDITING Question Paper - Mumbai University | munotes

Questions asked in this paper

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• 2) Figures to the right indicate full marks

1. Q1 A voucher decides authenticity of the transaction
2. Q2 Internal audit is compulsory for listed companies
3. Q3 There is no risk involved in audit sampling
4. Q4 Frauds do not affect financial statements
5. Q5 Copy Right is Current Asset
6. Q6 Secret reserve means part of profits secretly reserved for future use
7. Q7 of Internal Audit Report is to suggest remedial action
8. Q8 is valued at cost or Net Realisable Value whichever is less
9. Q9 Routine checking saves time of the auditor
10. Q10 to building is debited to Building Account is.an error of Principle
11. Q11 Audit programme must be in writing
12. Q12 Concurrent Audit is done with the occurrence of the transactions
13. Q1 B) Mach the Columns (Any Ten): 10). Document for Goods j) mistake 10 marks
14. Q2 Distinguish between Accounting and Auditing. Explain the term “Window Dressing'. What are the objections against it? (07) 8 marks
15. Q2 What are the advantages of Interim Audit? What are the drawbacks of Continuous Audit? (07) 8 marks
16. Q3 A) Give meaning and objectives of Audit Planning. 8 marks
    • B) Discuss the sources of obtaining information about client’s business by the auditor. 7
17. Q3 C) Explain the importance of Audit Working Papers. 8 marks
    • D) What are the essentials of good Audit Programme? 7
18. Q4 Give the internal control for Purchases. 8 marks
    • B) Explain the Internal Audit. Explain the points which are generally considered while framing of (15) 7
19. Q5 A) How would you verify “Plant and Machinery’’? 8 marks
    • B) How would you vouch “Rent Received”? 7
20. Q5 C) How would you vouch “Sale on 8 marks
    • D) What are the duties of an auditor regarding Stock Verification? 7
21. Q6 A) Explain the points which are to be considered by an auditor in the course of 10 marks
    • B) How would you verify “Sundry 10
22. Q6 C) Write short notes (Any Four): 1). Audit Evidence 20 marks
23. Q2 .True and Fair View
24. Q3 Error of Commission
25. Q4 Audit Sampling
26. Q5 Test Checking 6). Financial Statements and its users
    • a) ara fag
27. Q2 arm
28. Q3 &) arm
    • A) HA

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