1|Page

2|Page

A bundle of MCQs on Audit

Q1. Which of the following details are included in an audit notebook?

1. Matters requiring explanations or clarifications

2. Details of work done
3. Information to be used as a reference for future audits
4. All of the above

Answer: 4. All of the above

Q2. Which amongst the following has a broader scope?

1. Internal audit
2. Internal control
3. Internal check
4. None of the above

Answer: 2. Internal control

Q3. An internal auditor can operate in the role of ______________.

1. A temporary employee
2. A permanent employee
3. A daily wager
4. None of the above

Answer: 2. A permanent employee

Q4. What is the main objective of vouching?

1. To prepare a Balance Sheet

2. To carry out routine checking
3. To examine accounting vouchers
4. To verify the authenticity, accuracy, and authority of all transactions

Answer: 4. To verify the authenticity, accuracy, and authority of all transactions

Q5. Valuation is the basis of which of the following processes?

1. Vouching
2. Marketing
3. Verification
4. Internal checking