Auditor 2017 Past Paper with Answers

Practice the Auditor 2017 past paper with 99 solved MCQs, answers and topic coverage.

99 solved MCQs across 1 approved paper

How many Bits are there in One Byte?Answer: 8 Choose the part of sentence: The hour to prepare lesson "has arrived".Answer: Predicate Choose the part of sentence: "Smoking" is injurious to health.Answer: Gerund To produce high-quality graphics (hardcopy) in color, you would want to use ______?Answer: Plotter UNIVAC is a _________?Answer: Both A and B To remove selected paragraph or character formatting?Answer: Ctrl + Spacebar What is the smallest and largest font size available in Font Size tool on formatting toolbar?Answer: 8 and 72 Third generation computers used ______?Answer: Integrated circuits Which of the following is a machine-independent programming language?Answer: High-level language Which of the following is both an input and output device?Answer: Modem What is a Compiler?Answer: A compiler is a special program that processes statements written in a particular programming language and turns them into machine language The difference between an investment’s market value and its cost is called the _______ of the investment.Answer: Economic value GAAP stands for ______?Answer: Generally Accepted Accounting Principles Which of the following business forms of business organization is least regulated?Answer: Sole proprietorship The ability of a firm to convert an asset to cash is called _______?Answer: Liquidity Public company should start business only after getting a certificate of ______?Answer: Commencement of business Every business transaction affects at least _______ accounts.Answer: Two General journal is a book of _______ entries.Answer: Original The system of recording transactions based on the dual aspect concept is called ______?Answer: Double-entry system Share premium money can be used for _______?Answer: Issue of fully paid bonus shares Both debentures and Term Finance Certificates are usually issued by ______?Answer: Listed Companies If a motor van costs Rs.12,500, its accumulated depreciation is Rs.4,200, and depreciation charged for the year is Rs.2,500, what will be its book value at the end of the period?Answer: Rs.5,800 Excess of sale over cost of goods in an accounting period is termed as ______?Answer: Gross Profit Net profit is equal to ______?Answer: Both A and B Which of the following sections deal with the qualification of the auditor?Answer: Section 226 (1) and section 226 (2) What are analytical procedures?Answer: Substantive tests designed to study relationships between financial and non-financial data The primary purpose of establishing quality control policies and procedures for deciding on client evaluation is to _______?Answer: Accept or retain clients whose management does not lack integrity Preference shares are those which carry preferential rights in respect of ______?Answer: Both A and B Goodwill should be classified as a ______?Answer: Intangible asset Which of the following businesses would most likely use process costing?Answer: A maker of frozen orange juice