(A) Management fraud is more difficult to detect than employee fraud

(B.) Internal control system reduces the possibility of occurrence of employee fraud and management fraud

(C) The auditor’s responsibility for detection and prevention of errors and frauds is similar.

(D) All statements are correct.

(A) Error of principle

(B) Error of commission

(C) Error of omission

(D) Error of duplication

(A) Error of omission

(B) Error of commission

(C) Compensating error

(D) Error of principle

(A) The auditor should express an opinion on financial statements.

(B) His opinion is no guarantee to future viability of business

(C) He is responsible for detection and prevention of frauds and errors in financial statements

(D) He should examine whether recognised accounting principle have been consistently

(A) Teeming and lading

(B) Embezzlement

(C) Looping

(D) Hacking

(A) Objective and Scope of the Financial Statements

(B) Objective and Scope of the Audit of Financial Statements

(C) Objective and Scope of Business of an Entity

(D) Objective and Scope of Financial Statements Audit

(A) Embezzlement

(B) Misappropriation

(C) Lapping

(D) None of these

(A) Expression of expert opinion

(B) Detection and Prevention of fraud and error

(C) Both (a) and (b)

(D) Depends on the type of audit.

(A) Small scale business

(B) Partnership firms

(C) Joint stock Companies

(D) Proprietary Concerns

(A) Auditing

(B) Testing

(C) Vouching

(D) Verification