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

Related Mcqs:

Window dressing implies_______________?

A. Curtailment of expenses B. Checking of Wastages C. Under valuation of assets D. Over Valuation of assets...

Test Checking refers to___________?

A. Testing of accounts and records B. Checking of selected number of transactions C. Examination of adjusting and closing entries D. Checking of all transactions recorded...

______the audit risks_______the materiality and_________the audit effort.

A. Lower, Higher, Lower B. Lower, Lower, Higher C. Higher, Lower, Lower D. Lower, Higher, Higher...

What would most appropriately describe the risk of incorrect rejection in terms of substantive testing?

A. The auditor concludes balance is materially correct when in actual fact it is not B. The auditor concludes that the balance is materially misstated when in actual fact it not C. The auditor has rejected an item for sample which was material D. None of the above...

Audit programme is prepared by____________?

A. The auditor B. The client C. The audit assistants D. The auditor and his audit assistants...