Related Questions

Which of the following statement(s) is/are true?
1. Audit can be done by any person.
2. Auditing is guarantee of 100% correctness.
3. Errors can be detected and prevented from auditing.
4. Auditing is the examination of books and statements.
In the question below, are given a statement followed by three courses of actions numbered I, II and III. On the basis of the information given, you have to assume everything in the statement to be true, and then decide which of the following suggested courses of actions logically follow(s) for pursuing. Statement: Starting October, all new cars will have pedestrian safety features, including new design of the bonnet, to reduce impact on pedestrians during accidents. Advanced safety features are needed in all vehicles in India as vehicle safety cannot be confined to luxury vehicles only. Around 1.5 lakh people are killed in road accidents every year in the country, nearly 60% of them are pedestrians.  Courses of action: I. The government has set a target to reduce the number of road deaths by half in the next two years. The ministry of road transport and highways has been issuing new safety standards for the automobiles along with eliminating the black spots on national highways.  II. By next month, all new cars will have pedestrian safety feature, including new design of the bonnet, to reduce impact on pedestrians during accidents.  III. Ministry of road transport and Highways is planning to implement all safety features in vehicles with active support of vehicle manufacturers. Electronic stability control (ESC) and autonomous emergency braking (AEB) will be incorporated in new vehicles by 2022.
In the question below, are given a statement followed by three courses of actions numbered I, II and III. On the basis of the information given, you have to assume everything in the statement to be true, and then decide which of the following suggested courses of actions logically follow(s) for pursuing. Statement: The Department of Telecommunications (DoT) is set to conduct ‘special audits’ of mobile phone operators from fiscal 2011-12 onwards to check for under-reporting of revenue that might account for a sharp downturn in license fees and spectrum usage charges (SUC). Annual license fees and SUC paid to the government are calculated based on a telco’s revenue. The audit, to be resumed after a gap of three years, comes when license fee and SUC due to the government fell in 2017 by more than 23% on the year and is expected to fall this year too. This is due to the brutal price war, which expedited a bloody consolidation that saw a spate of exits and mergers & acquisitions that dented telecom revenues.  Courses of action: I. All telecom companies will be audited soon and DoT is preparing for this. This will be the third audit and notices will go out soon. II. DoT proposes to conduct audit/special audit of Aircel for the period of seven years for financial years 2011-2012 to 2017-2018. III. Operators fear the new round of audit could lead to a new dues being demanded from the already stressed sector, sparking more litigation and be a drag on time and resources. 
Statement I: Management audit is a part of financial audit.
Statement II: Management audit is not compulsory under any law.
Choose the correct code for the following statements being correct or incorrect. Statement I : When the two securities returns are perfectly positively correlated, the risk of their portfolio is just a weighted average of the individual risks of the securities. In such case, diversification does not provide risk reduction but only risk averaging. Statement II : Total risk of a portfolio of two risk securities can be completely eliminated when their returns are perfectly negatively correlated and their proportionate holdings in the portfolio are inversely related to the relative individual risks of the securities. 
In the following question, sentences of a paragraph have been jumbled and labeled as A, B, C, and D. You are required to rearrange the jumbled sentences in the right order to form a meaningful and coherent paragraph and mark your response accordingly by selecting the correct option. A. Thus, traditional food is food with a specific feature or features which distinguish it clearly from other similar products of the same category in terms of the use of “traditional ingredients” (raw material of primary products). B. Preparation methods of traditional foods are part of the folklore of a country or a region. C. The use of particular food ingredients and food preparation methods has been passed on from one generation to the next and are nowadays referred to as “traditional food”. D. It played a major role in the traditions of different cultures and regions for thousands of years, including foods that have been consumed locally and regionally for an extended time period.
In the question below, are given a statement followed by three courses of actions numbered I, II and III. On the basis of the information given, you have to assume everything in the statement to be true, and then decide which of the suggested course of action logically follow (s) for pursuing. Statement: The India Risk Survey 2017 report ranks 'Information & Cyber Insecurity' as the biggest risk facing Indian companies. Indian organizations, both public and private, had witnessed over 27,000 incidents of security threat, from January 2017 till June 2017 alone. Phishing, scanning/probing, website intrusions and defacements, virus/malicious code, ransomware, Denial of Service attacks, and data breaches are some ways in which hackers attack business websites, which can cause operational disruptions and potentially steal sensitive information. Small and medium businesses (SMBs), unfortunately, have been seeing rising incidences of cybercrime. In fact, 70 percent of cyberattacks occur at organizations with lesser than 100 employees  Courses of action: I. Mandate basic security practices and policies for all employees, such as 2-factor authentication, internet use guidelines and create and enforce rules on handling and protecting sensitive data. Conduct frequent training to sensitize employees about opening suspicious emails, encrypting their data, using strong passwords on their devices, installing security apps, and limiting activity over public Wi-Fi. Implement and enforce incident reporting to help ensure that even the smallest breach is report to management as well as the IT teams. II. Basics still matter and are some of the best defenses against viruses, malware, and other online threats. Assess the assets that are most at risk - data, servers, network - and ensure that the systems are updated with the latest security software, web browser, and operating system. Implement firewall security and run antivirus software after each update.  III. Ensure regular backup of all critical data - whether stored in-house or on the cloud. Run scheduled attack drills and stress tests to identify vulnerabilities and ensure that data restoration and business continuity are executed as planned.
Given is a statement followed by two assumptions numbered I and II. Consider the statement and the following assumptions and decide which of the assumptions and decide which of the assumptions is/are implicit in the statement. Statement: The safety, quality and nutritional value of the food we eat is of fundamental importance to our health and well-being. Assumptions: I. Food safety encompasses not only the prevention of gastro-intestinal illnesses caused by bacteria and viruses, but also the avoidance of harm form chemical contamination and the ingestion of unwanted physical contaminants. II. Monitoring and enforcement of food safety requirements should be carried out by a rangeof professionally qualified officers.
Statement I: Energy audit is an indepth check of the amount of energy being utilised.
Statement II: Energy audit includes general and preliminary audit.
Directions : In each of the following questions a statement is given, followed by two conclusions. Give answer :

Statement : Safety and health practices in many Indian companies are well below the international standards.

Assumptions :
I. International standards of health and safety are ideal and unrealistic.
II. Indian organizations do not consider safety and health management as their prime social responsibility.