Senior Auditor Test Batch-1 Question Paper- 2020

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Here I am Provide Senior Auditor Batch-1 Question Test Paper- 2020. I hope This Post Help On Your Senior Auditor Exam. This time paper will be according to the Senior Auditor Paper in 2020. Here, we stick to the pattern of the Senior Auditor Test. Here you will find Questions Paper from all topics, so let’s start…

Senior Auditor All Batches Test Paper In 2020

Batch-1 (Questions)

1. Audit verification is ( examination of books of account

2. Audit program (helps auditor in performing audit

3. If 18% interest compounded quarterly then discount factor of 8th year will be (answer  4.01…)

4. Operating costing is done in (service industry )

5. Secret Reserve Can be Created By? (Banks n financial  institutions )

6. Periodical Audit Is Also Called? Interim audit

7. Current assets less current liabilities is ( working capital )

8. Excess of sales over cost of sales is ( gross profit)

9. Any liabilities which arose due to certain events ( contingent liabilities )

10. Audit on refund of advance tax is ( audit of receipt )

11. A company  legally registered and owned by one or more persons or entities is known  as ( sole proprietor, partnership corporation,  none of these.)

12. Which expense will be vouched while performing an audit of the bill of entry ( custom duties)

13. An audit compulsory by law is ( statutory audit)

14. Dividend approved by shareholders in ( annual  general  meeting )

15. Which of the following is not a permanent part of books  of accounts ( trial balance )

16. Selling and distribution expenses are allocated on the basis of ( factory  cost)

17. Interest on the capital of partners is credited to (i guess, partners capital account)

18. Capital expenditures are incurred ( to obtain benefits in future period )

19. Depreciation on fixed assets is charged on (on the economic  life of fixed  assets )Which of the following is tangible assets  (furniture )

20. Accounting period is usually one year 

21. Seller offer discount to the buyer for early payments  ( cash discount)

22. Break up the value of shares (net asset value )

23. Planning in Quantitative terms is (budget )

24. One Question on the master budget 

25. Definition of modern digital computer 

26. Bottom of the income statement is ( net profit )

27. At year-end unsold goods are deducted from ( opening  stock)

28. Items in the balance sheet are presented on the basis of percentage of ( total assets )

29. ROI is the Ratio B/W( Return on investment )

30. Rebate On Bills Discounted is ( income)

31. An Entry That Effects more Than One Account. (Compound entry)

32. How Much Duration Do Accounting periods Have? (One year)

33. When Interest Rate falls The Bound Worth is? 

34. The Auditor Is like a ( watch Dog)

35. Audit Done By The Employees of the business? Management

36. SHARES are Forfeited On Non Payment  of

37. Prepaid expenses are an example of( current  assets)

38. An important tool for cost planning? Budget 

39. Risk and return comparison..(high-risk high return)

40. Gross profit 5000.. and net profit is 25% of it, then the expense is? Rs. 3750

41. If gross profit is 1/4 off sale, then it is ( 1/3 of cost price)

42. Does the prime cost consist of? (Direct material direct labour and direct expense)

44. What increases owner equity ? Net profit

45. A and B are in partnership for 2:1, if they give C 1/4 of share and C paid 3000 then total goodwill of company equal to? 12000

46. In modern days the definition of a computer is?

47. In which year the first chip of computer created? (1964 I guess )

48. Maximum numb of a partner in a partnership? 20 partner

49. Where the new share is issued? Primary market

50. Memorandum of association includes? (All of these i.e registered  office, the object of company n share capital )

51. Who appoints statutory auditors? Shareholders 

52. Interest rate and bond price ..(. move in the same direction and opposite direction )

53. An unsecured bond is called? Debenture  bond

54. The liability of An Auditor is? (civil&criminal )

55. Basic Objective of Cost Accounting. (Cost ascertainment )

56. Revenue from services in the cash flow statement is classified as (operating inflows ) 

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