- 02
- 03
- 04
- 05
- c
-
Current Liability
Fixed Liability
Contingent Liability
Outstanding Liability
Accounting MCQs
Accounting MCQs are included in this portion of ETEST Website.All Accounting MCQs are solved with short detail. ETEST Team updates ETEST Website on daily basis.
Balance Sheet consist of Assets and ….?
- Capital
- Liabilities
- Drawings
- None of these
- b
…….. Is prepared before trading profit and loss account.
- Balance Sheet
- Trial Balance
- Ledger
- Final Statement
- b
-
Profit and Loss Account is also called Income Statement.
How often the bank reconciliations should be prepared?
- Annually
- Monthly
- Quarterly
- None of these
- b
-
The purpose of reconciliation is to find out the mistakes or errors in the financial statement.
Audit Program is prepared by:
- The Audit Assistants
- The Client
- The Auditor and his Assistant
- The Auditor
- c
-
The auditor and his assistant prepared time table to examine the specific record. The coordination of whole team of auditor is necessary.
Which of the following affects on the audit effectiveness?
- Risk of over reliance
- Risk of incorrect rejection
- Risk of incorrect acceptance
- Both A and C
- d
What is analytical procedure?
- Substantive tests designed to evaluate the validity of management’s representation letter
- Substantive tests designed to assess control risk.
- Substantive tests designed to study relationships between financial and non financial
- None of these
- c
Balance Sheet Audit includes verification of:
- Assets
- Liabilities
- Income and Expense Account where appropriate
- All of above
- d
-
Balance Sheet Audit is an evaluation of accuracy of information which is entered in the balance sheet of organization.
Concurrent Audit is a part of:
- Internal Check System
- Internal Audit System
- Continuous Audit
- None of these
- b
-
Concurrent Audit is a systematic regular basis Audit and timely occurred to verify the financial transaction.
How many types of Cheques?
- 13
- 18
- 16
- 15
- c
-
Bearer Cheque
Order Cheque
Crossed Cheque
Un-Crossed Cheque
Account Payee Cheque
Blank Cheque
Anti Dated Cheque
Post Dated Cheque
Open Cheque
Self Cheque
Bankers Cheque
Stale Check
Gift Cheque
Mutilated Cheque
Travelers' Cheque
Cancelled Cheque