621.Auditing refers to
A.Preparation and checking of account
B.Examination of accounts of business units only
C.Examination of accounts of professional accountants
D.Checking of vouchers

622.Main object of auditing is
A.Detection of errors
B.To find out whether P&L a/c & B/S show true and fair state affairs
C.Detection of frauds
D.Detection and prevention of frauds and errors.

623.Auditing is luxury for a
A.Joint stock company
B.Partnership firm
C.Small shop-keeper
D. Government company

624.Propriety audit refers to
A.Verification of accounts
B.Examination accounts of propriety concerns
C.Enquiry against justification and necessity of expresses
D.Audit of Govt. companies

625.Propriety is normally undertaken in case of
A.Joint stock company
B.Government company
C.Statutory corporation
D.Govt. departments

626.Interim audit refers to
A.Examination of accounts continuously
B.Examination of accounts intermittently
C.Audit work to find out and check interim profits of a company
D.Carrying on audit for bonus purposes at the end of the year

627.Final audit implies
A.Audit of accounts at the end of the year
B.Finally checking of accounts to reveal frauds
C.Audit for submitting report immediately at the end of the year
D.Audit of banking companies

628.A continuous audit is specially needed for
A.Any trading concern
B.Smaller concerns
C.Banking companies
D.Any manufacturing companies

629.Joint audit implies
A.Audit of two concerns together
B.Audit of joint stock companies
C.Audit of joint sector companies
D.Audit by two firms of C.A

630.Management audit means
A.Audit undertaken on behalf of the management
B.Evaluating performance of various management processes and functions
C.Audit undertaken on behalf of Govt. to punish management
D.Compulsory audit

NOTE
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