1081. Internal audit is :
A. Requires a company with at least Rs 25 lakh in paid-up capital
B. Voluntary for a company *
C. Not necessary for a company
D. Necessary for a company
1082. Institute of chartered accountants of pakistan was established in :
A. 1956
B. 1949
C. 1956
D. 1961 *
1083. The audit is an examination of :
A. Balance sheet
B. Profit and loss account
C. Profit and loss account and balance sheet *
D. None of the above
1084. The audit of accounts of a company shall be :
A. Independent *
B. Comprehensive
C. Moral
D. All above
1085. Primary objective of carrying audit is to :
A. Impose more checks and employees
B. Submit report to share holders
C. Share your thoughts on the financial statements *
D. All above
1086. The audit shall be organized in such a manner to cover :
A. Capital expenditure and receipts
B. Revenue expenditure and receipts
C. All aspects *
D. None of the above
1087. The audit which is conducted after the close of financial year is called :
A. Continuous Audit
B. Final Audit *
C. Preparation and examination of the accounts
D. None of the above
1088. Auditor is responsible for :
A. Preparation of the accounts
B. Expression of an opinion *
C. Preparation and examination of the accounts
D. None of the above
1089. Examine of books of accounts is known as examination :
A. Accounting
B. Auditing *
C. Investigation
D. Book Keeping
1090. Continuous audit is compulsory for a :
A. Private limited company
B. Public limited company ( Listed )
C. Public limited company ( Unlisted )
D. None of the above