When is evidential matter, generally, considered sufficient?

Related Mcqs:

Floating assets are valued at____________?

A. cost B. Market price C. Cost or market price whichever is lower D. Cost less depreciation...

Goods sold on the basis of ‘sales or return ‘ should:

A. Be included in the stock B. Not be included in the stock C. Not be checked by auditor D. None of the above...

The auditor’s permanent working paper file should not normally, include__________?

A. Extracts from client’s bank statements B. Past year’s financial statements C. Attorney’s letters D. Debt agreements...

For what minimum period should audit working papers be retained by audit firm?

A. For the time period the entity remains a client of the audit firm. B. For a period of ten years C. For a period auditor opines them to be useful in servicing the client D. For the period the audit firm is in existence....

Which of the following statement best describes the understanding with respect to ownership and custody of working papers prepared by an auditor?

A. The working papers may be obtained by third parties when they appear to be relevant to issues raised in litigation B. The safe custody of working papers is the responsibility of client, if kept at his premises C. The working papers must be retained by an audit firm for a period of 10 years … Which of the following statement best describes the understanding with respect to ownership and custody of working papers prepared by an auditor?Read More...