BCom SY BCom Sem 4 BCom Sem 4 (2019 2020) Oct 2020 AUDITING Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 A State whether True or False ( Any 10) 10 marks
   • 1. Fraud is an unintentional error
   • 2. Management audit is a statutory audit
   • 3. A voucher decides authenticity of the transaction
   • 4. Cost audit is compulsory for al! the companies
   • 5. Documents of of fixed assets need not be examined
   • 6. Internal control is designed by management
   • 7. A voucher need not be dated
   • 8. Audit report is a part of financial statements
   • 9. Any type of error causes difference in trial balance
   • 10. Audit notebook is part of working papers
   • 11. A voucher decides authenticity of the transactions
   • 12. Secret reserve means part of profits secretly reserved for future use
2. Q1 B Select the appropriate answer. ( Any 10) 10 marks
   • 1. Manipulation of accounts is fraud
   • 3. Error means an mistake in financial statements
   • 4. After examination of records the auditor should address his report ( shareholders, Board of Directors, Central Government)
   • 5. means selecting & examining representative sample from a large number of
   • 7. Auditor may not be able to detect certain which are committed with malafide
   • 8. Not making provisions for outstanding expenses is an error of
   • 9. refers to examination as to whether assets/ liabilities are properly stated in
   • 10. The main objective of __is to avoid or reduce the tax liability
   • 11. Internal auditor is appointed ( Management , Shareholders, Board of Directors)
   • 12. is fundamental accounting assumption
3. Q2 A) Define fraud & Explain types of fraud. 15 marks
4. Q2 B) Define auditing & Explain basic principles of auditing. 8 marks
   • C) What are advantages of independent audit. 7
5. Q3 A) What is continuous audit & What are its advantages. 8 marks
   • B) Briefly explain the importance of audit programme. 7
6. Q3 C) What is the importance of vouching? 8 marks
   • D) What is test checking and whai are the features of test checking? 7
7. Q4 A) What is window dressing & what are objections against it? 8 marks
   • B) Distinguish between Accounting & Auditing. 7
8. Q4 C) Explain verification. 8 marks
   • D) How will you verify Sundry Debtors. 7
9. Q5 A) Explain Interim audit. 8 marks
   • B) How would you vouch purchases. 7
10. Q5 C) Explain Internal control. 8 marks
    • D)Give the meaning and objectives of audit planning. 7
11. Q6 A) Explain the importance of audit working papers. 10 marks
    • B) Explain the term window dressing? What are the objectives against it? 10
12. Q6 C) Write short notes. ( Any 4) 20 marks
    • 1. Types of error
    • 2. Qualities of an auditor
    • 4. Special audit
    • 5. Appointrient of first auditor

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