The auditor is most likely to examine related party transactions very carefully while vouching:

Which of the following is required while vouching Wages and Salaries: (i) Examine Payment in cash book (ii) Examine payroll summary (iii) Examine Unclaimed wages (iv) Examine relevant salary registers

A

(i), (ii) and (iv)

B

(i), (iii)

C

(i), (ii) and (iii)

D

(i), (ii), (iii) and (iv)

Which of the following is required while vouching purchases? (i) Examine sales book (ii) Examine Purchase book (iii) Examine purchase invoices (iv) Examine the numerical sequence of source documents generated within the organization

A

(ii), (iii) and (iv)

B

(i), (iii)

C

(ii), (iii)

D

(i), (ii), (iii) and (iv)

Which of the following is required while vouching Sales? (i) Examine sales book (ii) Examine sales Invoices (iii) Examine Cut off Points (iv) Examine the numerical sequence of source documents generated within the organization

A

(i), (ii), (iii) and (iv)

B

(i), (ii)

C

(ii), (iv)

D

(i), (iii)

Which of the following is required while vouching Cash at bank? (i) Examine Bank statement (ii) Examine salary register (iii) Examine Bank reconciliation statement (iv) Examine Stock register

A

(i), (ii), (iii) and (iv)

B

(ii), (iii)

C

(i), (iii)

D

(iii), (iv)

Consider the following statements about the Comptroller and Auditor General of India. 1. The office of the Comptroller and Auditor General in the Constitution of India is substantially modeled upon that of the Auditor-General of India Act, 1935. 2. The Comptroller and Auditor General may be removed only on an address from both Houses of Parliament on the grounds of 'proved misbehavior' or 'incapacity'. 3. The term of office of the Comptroller and Auditor General shall be five years from the date on which he assumes office. Which of the statements given above is/are correct?

A

1 only

B

1, 2 and 3

C

2 and 3 only

D

1 and 2 only

Which pair is correct for 'Types of Political Party - Name of Political Party'? I. National Party - Communist Party of India II. State Party - Aam Aadmi Party III. State Party - All India Trinamool Congress IV. National Party - Indian National Congress

A

II, III and IV

B

I, II, III and IV

C

I, II and III

D

I, II and IV

While vouching, how will the auditor ensure that all credit sales transactions have been recorded by the entity?

A

Examining cut off points

B

Matching entries in the sales book against renumbered sales invoices and goods' outward notes

C

Counting the number of invoices and matching the number with entries on sales book

D

Both A and B

A database has 5 transactions. Of these, 4 transactions include milk and bread. Further, of the given 4 transactions, 2 transactions include cheese. Find the support percentage for the following association rule "if milk and bread are purchased, then cheese is also purchased".

A

0.4

B

0.6

C

0.8

D

0.42

Three parties A, B and C contest the election. From the previous election, 4000 voters who voted for party C voted for B and 2000 from party C voted for party A. 2000 voters from party B voted for C and 1000 voters did not vote at all. In previous election C won the election defeating B by 5000 votes and defeated A by 15000 votes. The percentage amounts of vote poled to party A in the present election is 300/11. What is the vote obtained by party A in the present election?

A

24000

B

25000

C

26000

D

27000

E

28000

A, B and C are three parties which contests in local election (people vote for one of the three parties alone). A and B forms an alliance thinking that they will get 50% more votes than C due to which 20% of voters from party A vote for party C and 15000 votes from party B vote for party C. Now C gets 56 2/3% of the total vote casted whereas only 16 2/3% of the voters only voted for party B? What is the initial amount of vote bank that party A had before alliance?

A

20000

B

40000

C

50000

D

60000

E

65000

The auditor is most likely to examine related party transactions very carefully while vouching:

Related Questions