Practical Auditing
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Practical Auditing
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25 Questions

1. The additional cost of producing an additional unit is called ……….
2. In his report, the auditor gives his
3. A company auditor should see that the dividend should be paid
4. The maximum number of audit assignment an auditor can accept is limited to -------------- companies
5. The method of costing applied when articles are manufactured in definite batches is ………………………….
6. A company auditor, in general has to submit his report to
7. Bonus shares are issued to ----------------
8. Internal auditor is appointed by the
9. Application money should not be withdrawn unless
10. ……………….. is an angle formed in break even chart
11. Investments in hand should be verified with the help of
12. Contract price is the cost of work done plus a percentage
13. The auditors are liable under
14. ---------------- audit is compulsory for joint stock companies
15. The excess of sales over variable cost is known as ………………
16. …………… is a graphical representation of marginal costing
17. Capital profit imply profit earned
18. Shares can be issued at premium, under section
19. --------------- audit is forward looking -
20. The person who gives the work on contract is known as ……
21. Job costing is applied when the product are of …………… nature
22. A contract in which the price is fixed in advance is a ………….. contract
23. -------------- of the companies Act 1956 prescribes the duty of preparing a report by an auditor
24. The method of costing applied in lathe is ………………….
25. The duties of internal auditor is prescribed by

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