- Ensure Adherence to generally accepted audit standards
- Acceptance or retention clients whose management does not lack integrity.
- Ensure audit fee is charged according to the type of audit work assigned.
- All of the above
- d
Preference shares are those which carry preferential right in respect of:
- Payment of Capital
- Dividends
- Both A & B
- Nonce of these
- c
Goodwill should be classified as a:
- Intangible Asset
- Liquid Asset
- Floating Asset
- Current Asset
- a
-
Intangible Asset is an asset which have not physical presence.
Which of the following business would be most likely use process costing?
- An auto repair shop
- A macron frozen orange juice
- A Hospital
- A law firm
- b
Which of the following usually is least important as a measure of short term liquidity:
- Debt Ratio
- Current Ratio
- Cash flow from operating activities
- Quick Ratio
- c
Which of the following accounts would never appear in the after closing trial balance?
- Dividends
- Accumulated Depreciation
- Income Tax Expense
- Both A & C
- d
Debentures are a company’s:
- Asset
- Liability
- Expense
- Investment
- b
An example of the financial activities in the context of cash flow statement is:
- Dividend Paid
- Financial Charges Paid
- Long Term Deposit
- Fixed Capital Expenditure
- a
If the profit is 1/4th of the sale then it is:
- 1/4 of the cost price
- 1/3 of the cost price
- 1/5 of the cost price
- 1/6 of the cost price
- b
A large organization with separate legal status is known as:
- Partnership
- Limited Company
- Sole Proprietorship
- None of these
- b