961.————-is an examination of the operations,records and books of account of the insurance company.
A.Internal audit
B.Extenal audit
C.Insurance audit
D.Tax audit

962.Auditor performs an audit to ensure that the customer has paid the appropriate premium for————- provided to him.
A.Benifit
B.Assurance
C.Risk cover
D.All of the above

963. At present ,partnership firms in India are ——- to get their financial statements audited.
A.Legally required
B.Not legally required
C.Compulsorily
D.None of the above

964. Still, many firms get their financial statements audited as auditied accounts helps in proper-
A.Maintainance of accounts
B.Maintainance of assets and properties
C.Valuation of goowill,distribution of share of the deceased Partner to their legal heirs etc.
D.All of the above.

965. Sole proprietary concerns are——- to get their financial statements audited by independent financial auditors.
A.Legally required
B.Not legally required
C.Ethically required
D.Not ethically required.

966.Generally management audit /operational audit is –
A.Mandatory
B.Compulsory
C.Not mandatory
D.Not mandataory but it recommendatory certainly

967.After the function audit, proper systems are put in place and gaps as identified are filled by way of –
A.Legal actions
B.Corrective actions
C.Corroborative actions
D.Compensatory actions

968. A performance audit can be a review of a program to assure that it is-
A.Complete
B.Satisfactory
C.Foolproof
D.Satisfying its objectives

969.——–may take into account the anticipated benefits of aprogram relative to the actual performance-
A.Targeted performance
B.The performance audit
C.Planned performance
D.Achieveable and standard performance

970.The performance audit may be initiated by the organisation or by-
A. Government
B.Employees and management
C.Shareholders
D.External interested parties

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