CA Intermediate Auditing and Assurance Test Series-8

Test Preparation on CA Intermediate Auditing and Assurance Test Series-8

1.

For Reliance Company Auditing, is –

1Necessity
2Luxury
3Symbol of Prestige
4none of these.

2.

For every business Accountancy is –

1Luxury
2Necessity
3Symbol of Prestige
4None of these

3.

For a betel shopkeeper, Auditing is –

1Necessity
2Luxury
3Compulsory
4None of these

4.

Generally, auditing is not necessary for small sole trading businesses because –

1Legally it is not necessary
2Its scope is limited
3Its proprietor has full control over it
4None of these

5.

Audit of a public company is –

1Compulsory
2Luxury
3Voluntary
4Optional

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