BCom TY BCom Sem 6 BCom Sem 6 (2018 2019) April 2019 FINANCIAL ACCOUNTING AUDITING PAPER X AUDITING 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 full marks

1. Q1 a) Select the most appropriate option and rewrite the full sentence: (any Eight) 8 marks
   • 1. The objective of internal control is to ‘
   • a. Prevent frauds
   • b. Prevent inefficiency
   • c. Improve financial
   • 2. Investment is normally valued at the end of accounting year
   • a. Cost price
   • b. Market price
   • c. Realizable value
   • d. None of above
   • 3. Method of selecting sample ensures that all items in the population equal chance of selection
   • a. Random selection
   • b. Systematic selection
   • c. Haphazard selection
   • d. None of the above
   • 4. deals with audit sampling
   • b. SA 400
   • 5. Working papers are the property of the
   • a. Auditor
   • b. Client
   • c. Client and the auditor None of the above
   • 6. Manipulation of accounts to show a better position is called as
   • a. Secret reserve
   • b. Window dressing True and fair view
   • d. None of the above
   • 7. Audit programme should be
   • a. Oral
   • b. Rigid
   • c. Flexible
   • d. Oral and flexible
   • 8. The implies application of audit procedure to less than 100% of the items within a class of transactions
   • b. Audit programme
   • d. of the above
   • a. Audit Report
   • d. Audit Evidence
   • a. Investigation is carried out
   • b. Accounting work is over
   • c. The general meeting is over
   • d. None of the above
   • b). State whether following statements are true or false: (any7) 7
   • 1. Voucher need not be dated
   • 2. Fixed assets should be shown as market value
   • 3. There is no risk involved in audit sampling
   • 5. Management has no control over internal control
   • 7. Audit in depth is part of checking
   • 8. Verification protects against misuse of assets
   • 9. AnError of Principle will not affect the Trial Balance
2. Q2 a) Enumerate the different types of errors. 8 marks
   • b) Explain any four basic Principles of Auditing 7
3. Q2 a) What is Audit Working Papers? Explain importance of Audit Working Papers. 8 marks
   • b) What is Audit Programme? What are the essentials of Audit Programme? 7
4. Q3 a) What is Internal Control? Explain the auditor’s duties in respect of Internal Control. 8 marks
   • b) What is Current file? Explain the contents of Current file. 7
5. Q3 a) What is “Test Checking’? Explain its advantages. 8 marks
   • b) How would you vouch the following? 7
   • 1) Royalties Income
6. Q4 a) What is verification? How would you verify 8 marks
   • b) What are the duties of an auditor in respect of Internal Check? 7
7. Q4 a) What is Audit Sampling? Enumerate the basic factors influencing sample size? 8 marks
   • b) What do you mean by Vouching? Explain its importance. 7
8. Q5 a) Distinguish between Investigation and Auditing . 8 marks
   • b) State the different types of misappropriation of goods? 7
9. Q5 Write short notes on: (any 3) 15 marks
   • b. True and Fair view
   • e. In- depth audit
   • 2. Hata Tara
   • 2. ceil are
   • g. SA 400
   • a. SA 610
   • 2. TAN
   • 3. feels
   • 0.9. fear ( )

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