881. Generally an auditor needs to release the report up to-
A. A specified timeline
B. Unspecified timeline
C. Infinite timeline
D. End of the next accounting period

882. The evidences obtained by an auditor are persuasive rather than-
A. Correct
B. Reliable
C. Conclusive
D. All of the above

883. An audit cannot add exactness and certainty to financial statements when these factors ______
A. Do not exist
B. Exists
C. Are not known
D. None of the above

884. The audit opinion is based on the information provided by the –
A. Employees
B. Government
C. Management
D. All of the above

885. The investigation is related to critical checking of-
A. Internal records
B. Particular records
C. Accounting records
D. External records

886. Which of the following is not the objective of Internal audit-
A. To keep proper control over business activities
B. To evaluate accounting system
C. To report to the owner and outsiders
D. To evaluate the internal check system

887. Primary responsibility for the adequacy of financial statement disclosures rest with the ______
A. Auditor
B. Management
C. Auditor’s Staff
D. Central Government One of the

888. following not an advantage of audit
A. It provides satisfaction for owner
B. It helps in getting loans
C. It reduces cost burden
D. It detects errors and frauds

889. The purpose of audit and investigation is
A. Same
B. Different
C. Sometimes same and sometimes different
D. None of the above

890. Investigation implies systematic, critical and special examination of the records of a business for a-
A. General purpose
B. Unspecified purpose
 D. None of the above

NOTE
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