CUSTOMER_CODE
SMUDE
DIVISION_CODE
SMUDE
EVENT_CODE
OCTOBER15
ASSESSMENT_CODE BB0013_OCTOBER15
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
31533
QUESTION_TEXT
Explain any five classifications of audit based on objectives?
SCHEME OF
EVALUATION
Following are the different classification of audit based on objectives, (any
five)
1. Legislative control
2. Relation of auditor and management
3. Periodicity
4. Subject matter
5. Coverage
6. Manner of checking
2 * 5 = 10
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
31535
QUESTION_TEXT
Explain the types of cost audit.
SCHEME OF EVALUATION
The different types of cost audit are,
1 Cost audit on behalf of the management
2. Cost audit on behalf of the customer
3 Cost audit on behalf of the government
4 Cost audit by trade association
5 Statutory cost audit
2 * 5 = 10
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
31536
QUESTION_TEXT
Explain any five differences between internal check and internal audit.
SCHEME OF EVALUATION
The differences between internal check and internal audit are, (any five)
1. Nature of work
2 Scope of work
3. Object
4. Commencement
5. Appointment of staff
6. Discovery
2 * 5 = 10
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
31538
QUESTION_TEXT
Explain the rights of an auditor and list out the duties of an auditor.
SCHEME OF EVALUATION
Following are the rights of an auditor,
1. Access to book of accounts
2 Call information and explanation
3. Receive notice of and attend general meeting
4 Make statement at the general meeting
5 Being indemnified under section
6 Visit branches
7. Take legal and technical advices
8. Remuneration
9. Sign the audit report
Following are the duties of an auditor,
1. To enquire
2. To report
3. Other statutory duties
(1 * 9) + 1 = 10
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
73913
QUESTION_TEXT
What is accounting? Briefly describe the different accounting concepts.
SCHEME OF
EVALUATION
Accounting is the language of business; affairs of a business unit are
communicated to others as well as to those who own or manage it
through accounting information which has to be suitably recorded,
classified, summarised and presented.
Accounting Concepts are:
1. Business Entity Concept
2. Money Measurement Concept
3. Cost Concept
4. Going Concern Concept
5. Dual Aspect Concept
6. Realization Concept
7. Accrual Concept
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
73914
QUESTION_TEXT
What is the secondary objective of auditing? Explain the various types of
errors.
SCHEME OF
EVALUATION
Secondary objective of auditing relates to detection and prevention of
Errors. Errors are generally innocent but sometimes errors which might
appear as innocent may be ultimately found to be due to fraudulent
manipulation and therefore auditor must pay attention to every error. The
following are the various types of
errors.
a. Classical Errors
• Errors of Omission
• Errors of Commission
b.
c.
d.
Errors of Principles
Off Setting Errors
Errors of Duplication