631.Systems audit implies
A.Systematic examination of accounts
B.Audit undertaken to improve auditing systems
C.Enquiring accounting and control systems
D.Checking the performance of management

632.Internal audit means
A.Audit undertaken to ascertain truth and fairness of state of affairs
B.Audit undertaken internally to evaluate management functions
C.Audit undertaken by employees of the organization to check financial irregularities
D.Audit by independent auditor to improve internal affairs

633.Internal audit is
A.Compulsory for a company with paid-up capital of Rs. 25 lakh and above
B.Voluntary for a company
C.Not necessary for a company
D.Necessary for a company

634.Internal auditor is appointed by the
A.Management
B.Shareholders
C.Government
D.C & A-G

635.The object of internal check is to
A.Control wastage of resources
B.Prevent errors and frauds
C.Verify the cash receipts and payments
D.Facilitate quick decision by the management

636.Effective internal check system reduces
A.The liability of auditor
B.Work of auditor
C.Both work as well as auditor
D.Responsibilities of an auditor

637.Internal check is a part of
A.Internal audit
B.Internal accounting
C.External audit
D.Internal contro

638.Internal check is suitable for
A.Larger concerns
B.Smaller concerns
C.Petty shop- keepers
D.None of the above

639.Internal check is essential for
A.Petty traders
B.Cash transactions in a large concern
C.A concern using automatic equipments
D.None of the above

640.Misappropriation of goods may be checked by
A.Proper supervision over stock
B.Checking of employees
C.Punishment of employees
D.None of the above

NOTE
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