- Balance Sheet Audit
- Concurrent Audit
- Statutory Audit
- All of the Above
- d
Admin
Current Ratio is calculated as :
- Current Liabilities / Current Assets
- Current Assets / Current Liabilities
- Capital / Current Asset
- None of these
- b
Important tool for cost Planning is :
- Audit
- Budget
- Management
- None of these
- b
-
Budget provides different way for planning in future to meet the goals of organization.
Internal Audit should be done by:
- External Management
- Internal Management
- External Auditors
- None of these
- b
-
The Organization held audit as internal audit by the accountant of organization, it is called internal audit.
External Audit always performed by third party.
The principal method for the procurement of goods, services and work is:
- FIFO
- Open Competitive Bidding
- Close Competitive Bidding
- LIFO
- b
-
There are four procedure to open Competitive Bidding.
Every transaction has …… Effect.
- Single
- Double
- Triple
- Zero
- b
-
Every transaction has double effect. Each transaction will be credit and in another voucher same transaction will be debit
Gross Profit is:
- Cost of goods sold + Opening Stock
- Excess of sales over cost of goods sold
- Net profit less expenses of the period
- Sales less Purchase
- b
Which of the following is not asset?
- Prepaid Expenses
- Loan from Bank
- Buildings
- Cash Balance
- b
An Amount , Cash or other assets removed or withdrawn from business by owner, is called:
- Assets
- Drawings
- Liabilities
- None of these
- b
-
The drawing is a term which is used in commerce. A owner withdraws money from business for his personal use then this transaction will be called Drawings.
Income Tax is levied on:
- Agricultural Income
- Presumptive Income
- Income Tax
- None of these
- b
