201. which of the following is ascertained by drawing up an income and expenditure account
A. Cash in hand
B.Surplus or Deficiency
C. Capital Fund
D. None of these

202. Identify the item that is likely to serve as source document
A. Trial balance
B. Income statement
C. Balance sheet
D. Invoice from supplier

203. Double entry book-keeping was fathered by:
A.F.W.Taylor
B. Henry Fayol
C. Lucas Pacioli.

204. Audit program is prepared by?
A. Auditor
B. Client
C. Auditor and his audit assistants
D. None of these

205. First auditor is appointed by which authority if directors could not appoint auditor within 120 days of incorporation
A. Shareholders
B. SECP
C. Directors
D. None of these

206. Different activities that auditor performs to collect audit evidence on which to base auditor opinion is called
A. Audit procedures
B. Audit sampling
C. Conformation
D. None of these

207. Audit of a bank is generally conducted thorugh
A. Routine checking
B. Couching
C. Balance sheet checking
D. None of these

208. Record of audit objections is maintained in?
A. Objections book
B. Audit inquiry book
C. Audit manual
D. None of these

209. Audit evidence obtain through a direct written response from a third party is called?
A. Inspection
B. Observation
C. Confirmation
D. None of these

210. Auditing is a branch of
A. Natural science
B. Social science
C. Abstract science
D. None of these

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