File Details:

Questions:

1. Explain the meaning of auditing.
2. What is the origin of Double Entry System?
3. Who propounded the Double Entry System?
4. When was auditing of company accounts made compulsory in England?
5. When was the first Chartered Accountant Act passed in the world?
6. When was the audit of company accounts made compulsory in India?
7. Which government in India first followed the education of accountancy?
8. When was the Chartered Accountant Act of India enacted?
9. What is auditing for a private companynecessity, prestige, or luxury?
10. Why is accountancy a necessity for every business?
11. Where is the head office of the Institute of Chartered Accountants of India (ICAI) situated?
12. What are the functions of an auditor?
13. Where does auditing begin in relation to accountancy?
14. What is the main objective of auditingfraud prevention or something else?
15. Why is auditing generally unnecessary for small sole trading businesses?
16. What constitutes the technical knowledge of auditing?
17. What qualities are expected of a good auditor?
18. What type of body is the Institute of Chartered Accountants of India (ICAI)?
19. Who can be an auditor in a company?
20. What is considered a capital receipt in terms of old furniture?
21. What type of error occurs when office furniture purchase is debited to the Purchase Account?
22. What is the embezzlement of the domestic use of official telephone categorized as?
23. Who appoints the first auditor of a company?
24. Who appoints the Comptroller and Auditor General of India?
25. What is statutory auditcompulsory, voluntary, or optional?
26. When is continuous audit useful?
27. What is an interim audit, and when is it conducted?
28. What are the limitations of audit working papers and internal controls?
29. What constitutes test checking in auditing, and what is its purpose?
30. What is the difference between internal check, audit, and control?
31. What is the relation of verification and valuation in auditing?
32. Define fictitious assets and give examples.
33. What does the average profit method value?
34. How are stock and goodwill valued in accounting?
35. What role does depreciation play in asset valuation?
36. What are the purposes of creating secret reserves?
37. What is the substitute for 'Table F' as per the Companies Act 2013?
38. What is the charter of the company?
39. What is the object of investigation, and how does it differ from auditing?
40. What are the liabilities of an auditor for negligence?
41. Who is authorized to fill a casual vacancy of an auditor?
42. What is a clean audit report?
43. What constitutes a capital profit, and how can it be utilized?
44. What are the implications of incorrect valuation of stock?
45. Who is eligible and ineligible to be an auditor of a company?