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.Management Sciences
Category: Auditing Mcqs
Audit in depth is synonymous for____________?
A. Complete audit
B. Completed audit
C. Final audit
D. Detailed audit
When issuing unqualified opinion, the auditor who evaluates the audit findings should be satisfied that the___________?
A. Amount of known misstatement is documented in working papers
B. Estimates of the total likely misstatement is less than materiality level
C. Estimate of the total likely misstatement is more than materially level
D. Estimates of the total likely misstatement cannot be made
Which of the following statements is not true with respect to management representations obtained as per AAS11?
A. Authenticated copy of relevant minutes of meetings may be regarded as management representation
B. It should always be in working
C. It may be dated prior to the report date
D. It should be addressed to the auditor
When issuing unqualified opinion, the auditor who evaluates the audit findings should be satisfied that the_____________?
A. Amount of known misstatement is documented in working papers
B. Estimates of the total likely misstatement is less than materiality level
C. Estimate of the total likely misstatement is more than materially level
D. Estimates of the total likely misstatement cannot be made
The auditor should examine subsequent realization of revenue such as dividends, interest,commission, etc to:_____________?
A. identify cases of unrecorded revenue
B. ensure proper disclosure in the balance sheet
C. recompute accrued income on the data of balance sheet
D. Any of these
When restrictions that significantly affect the scope of the audit are imposed by the client, the auditor generally should issue which of the following opinion?
A. Qualified opinion
B. Disclaimer of opinion
C. Adverse opinion
D. Unqualified report with ‘an emphasis of matter’ paragraph;
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