Auditing MCQs
Auditing MCQs cover audits, controls, standards, planning, procedures, risks, and reportingβideal for ACCA, CA, ICMA, B.Com, MBA, and finance exams, ensuring conceptual clarity and practical application for academic and professional success.
Q: Auditorβs independence is required to maintain
A) Client loyalty
B) Volume
C) Speed
D) Objectivity
Q: Books of original entry are checked during
A) Finalization
B) Statutory audit
C) Filing
D) Vouching
Q: Report issued when there are material misstatements
A) Balanced report
B) Clean report
C) Adverse report
D) Interim report
Q: Inspection of physical stock is classified under
A) Confirmation
B) Inquiry
C) Recalculation
D) Observation
Q: Frauds detected by audit must be reported to
A) Auditor general
B) Government
C) Management
D) Internal control officer