BCom TY BCom Tybcom Others Auditing Paper Iv. Course Old Pattern Question Paper - Mumbai University | munotes
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Questions asked in this paper
- (2) Figures to the right indicate fuyy
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Q1 (a) Explain with examples differ
- (b) How would you vouch the of errors of 8
- (i) | Cash Purchase 7, (a) Select the appropriate option and
- (i) Which of the followi rewrite the following sentences. 6 ing errors will affect the trial balance ? e Repairs to machine bi i e Total Ty wrongly debited to machinery account Journal is short by % 2000 ight paid on purchase of new Machinery debite i 7 None of the above. ery debited to freight account
- (ii) Working papers are the property of the e Client and Auditor e Non of the above
- (iii) SA which deals with Audit sampling e None of the above
- (iv) The Auditor should examine in case of sales return e Credit notes and delivery challans e Debit notes and cash memos e Purchase invoices and goods received notes e Credit notes and goods received notes
- (v) Prior Period expenses are e Expenses of the current year paid in Previous Year e Expenses of the previous year paid in Current Year e Expenses of the previous year paid in Previous Year e None of the above
- (vi) The Auditor of a Government Company is appointed by e The Board of Director e The Comptroller and Auditor-General of India e The Central Government e SA dealing with working papers e Addcost to the cost of original shares e Report to shareholders e Shareholders at Annual General e Re-appointment of Auditor e Report to Management
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Q3 (a) What are the features of routine checking ?
- (b) What are the limitations of internal control ?
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Q4 (a) What are the points to be considered in vouching ?
- (b) Explain removal of Auditors
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Q5 (a) How would you verify the following :—
- (b) What is Audit Programme ? What factors should be kept in mind while preparing
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Q6 Write short notes (any three) :—
- (a) Cost Audit
- (b) Test Checking
- (c) Vouching of Cash Sales
- (d) Verification Letter of Confirmation
- (f) Principles of Audit 7, Navketan Ltd. has under taken two contracts. It furnishes the following information 20 for the year ended 315' March, 2013
- (1) Balances on April, 2012 Plant at site 6,600 9,300 Provisions for Contingencies 3,000 1,800
- (2) Transactions during the year :
- (3) Balances on March, 2013 : Material at site — 3,000 Plant at site 6,000
- (4) Contract Price 75,000 1,20,000
- (5) Amount received 75,000 81,000 Value of plant transferred from Sangli contract to Satara contract The Company. consistently adopts to policy of taking credit for the contract profit considering the proportion of amounts received to the contract price You are required to : Prepare Sangli contract account and Satara contract account for the year ended
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Q8 Product XYZ obtained after it is processed through three distinct processes. The following information is available for the month of March, 2013 1500 units @ 3 per unit were introduced in Process Normal loss Value of Process Output in units on input per unit (%) There is no stock of work-in-progress in any process. You are required to
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Q9 Sagar manufacturing company gives you the following particulars for the year 2012 Production and sales during the year was 20,000 units The company has worked to its Maximum capacity of 20,000 units during the year 2012. The management has decided to increase Production capacity to 30,000 units for the year 2013 and it is estimated that
- (a) There will be all round rise in all variable expenditure by 10%
- (b) There will be increase of 20% in all fixed overheads
- (c) There will be no need to change the selling price for the year 2013 Prepare Cost sheet for the year 2012 with cost per unit column and also prepare estimated Cost sheet for the year 2013 with cast per unit column
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Q10 (a) The and profit of M/s Amit Ltd. during the two year 2011 ! were as follows :— Your are required to calculate :
- (i) P/V Ratio
- (iii) Sales required to earn a Profit 2,40,000
- (iv) The profit made when sales are 15,00,000
- (b) From the following Particulars
- (i) Material Cost 6
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Q11 (a) Calculate profit as per Financial Accounts Net Profit as per Cost Accounts 60.000 Over valuation of opening stock in Cost Accounts 7,000 Over valuation of closing stock in Cost Accounts 4,000 5 marks
- (b) From the data Calculate 5
- (ii) Profit when sales are 60,000 and
- (iii) New Break-Even point if selling price is reduced by 20% Fixed Expenses 12,000 and
- (c) From the following information calculate— 5 Number of Hours Per unit. 360 400
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