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

Questions asked in this paper

1. Q1 (A) Write most appropriate answer from alternatives given below. (ANY EIGHT) 8 marks
2. Q1 Book keeping is
   • a)Actual record of transactions b)Keep record
   • c)Process of filing d)Correspondence
3. Q2 ------ is the link between clients record & Audit Report
   • c) Audit assistants d)Employee of the company
4. Q3 Special Audit can be ordered by
   • a)State Government b)Central Government
5. Q4 Prevention and Detection of fraud ,errors can be done by
   • a) Auditor b) Accountant
   • c) Cashier d) Management
6. Q5 Loose Tools are disclosed under
7. Q6 Arrears of Preference Dividend is-------liability
   • c) Fixed d) Fictitious
8. Q7 Audit Note Book is property of
   • c) Client d) Chairman of the company
9. Q8 The following is wasting Assets
10. Q9 Continuous Audit is suitable for
11. Q10 In respect of Land purchased by the company ,Auditor to verify
    • a) Stamp duty paid b)Need for purchase c)Amount paid d) area of land
    • (B) Write True or False ( ANY SEVEN) 7 1.A Voucher need not be dated
12. Q2 Land is subject to depreciation 3.Auditing is systematic examination of Books
13. Q4 Audit Note is maintained by Auditor
14. Q5 Before starting Audit ,Auditor should prepare Audit Programe
15. Q6 Efficiency Audit is part of Performance Audit
16. Q7 AS14 deals with accounting of Investments
17. Q8 SEBI sanction is necessary for Issue of Debentures
18. Q9 Appointment of Auditor is done by Chairman of the company
19. Q10 Statutory Audit is compulsory for limited companies
20. Q2 A) What are features of Auditing? 7 marks
    • B) Distinguish between Internal Audit & External Audit 8
    • C) How would you vouch the following. 8 1.Wages Expenses
    • D) What are the features of Voucher. 7
21. Q3 (A)Define Errors and explain types of Errors 8 marks
    • (B) What are the duties of Auditor in respect of Window Dressing 7
    • (C) Explain advantages and Limitations of Auditing 8
    • (D) Write detail Note on Audit Programme . 7
22. Q4 (A) How Auditor verify following items
    • (B) What are objectives of Vouching? 7
    • (C) Write detail note on Secret Reserves of the company. 8
    • (D) Explain the procedure involved in Verification of Current Assets 7
23. Q5 A) How Auditor verify the item Proposed Dividend. 7 marks
    • B) What do you mean by Terms of Engagement of Auditor. 8
    • C) Write short Notes on (ANY THREE) 15
24. Q2 Compensating errors
25. Q4 Internal Check

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