Consider the following categories of documentary evidence from the point of view of the degree of their reliability.

Consider the following categories of documentary evidence from the point of view of the degree of their reliability.
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Documentary evidence originating from and held by the entity.
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Documentary evidence originating from entity and held by the third party. Which one of the following is the correct order (high to low) of their degree of reliability ? (A) 4 - 1 - 3 – 2 (B) 3 - 2 - 4 - 1 (C) 4 - 2 - 3 – 1 (D) 3 - 1 - 4 - 2

Description : Documentary evidence originating from entity and held by the third party. Which one of the following is the correct order (high to low) of their degree of reliability ? (A) 4 - 1 - 3 – 2 (B) 3 - 2 - 4 - 1 (C) 4 - 2 - 3 – 1 (D) 3 - 1 - 4 - 2

Last Answer : Answer: 3 - 2 - 4 - 1

Documentary evidence originating from third parties and held by the entity.

Description : Documentary evidence originating from third parties and held by the entity.

Last Answer : Documentary evidence originating from and held by the third party.

Consider the following statements–

Description : Consider the following statements–

Last Answer : Managerial grid is an organizational concept that brings together teams of individuals from specialized jobs and departments for achieving specific results in defined periods of time.

Consider the following statements in respect of the “Duty Free Import Authorization Scheme”.

Description : Consider the following statements in respect of the “Duty Free Import Authorization Scheme”.

Last Answer : The scheme offers the facility to import the required inputs before exports.

Consider the following statements–

Description : Consider the following statements–

Last Answer : Authority in an organization is the formal or institutional right to command stemming from official delegation of position.

Point out the incorrect answer. Evidence may be (a) Direct and indirect (b) Primary and secondary (c) Oral and documentary (d) Procedural and substantive

Description : Point out the incorrect answer. Evidence may be  (a) Direct and indirect (b) Primary and secondary (c) Oral and documentary (d) Procedural and substantive

Last Answer : (d) Procedural and substantive

A copy compared with a copy of a letter made by a copying machine is ___ evidence of the contents of the letter (a) Documentary (b) Primary (c) Secondary (d) None of these.

Description : A copy compared with a copy of a letter made by a copying machine is ___  evidence of the contents of the letter (a) Documentary (b) Primary (c) Secondary (d) None of these.

Last Answer : (c) Secondary

Evidence given by a dumb witness in the court by writing or signs shall be deemed to be (a) Documentary evidence (b) Oral evidence (c) Neither A nor B (d) None of these

Description : Evidence given by a dumb witness in the court by writing or signs shall be deemed  to be (a) Documentary evidence (b) Oral evidence (c) Neither A nor B (d) None of these

Last Answer : (b) Oral evidence

Evidence under the Indian evidence act means and includes a) Oral and documentary evidence or both b) Documentary evidence c) Primary and circumstantial evidence d) Primary evidence

Description : Evidence under the Indian evidence act means and includes a) Oral and documentary evidence or both b) Documentary evidence  c) Primary and circumstantial evidence d) Primary evidence 

Last Answer : a) Oral and documentary evidence or both

In which of the following cases no notice is required to be given to adverse pary before producing secondary documentary evidence? a) When original is destroyed b) When original is immovable c) When original is electronic record d) When original is in possession of adverse party

Description : In which of the following cases no notice is required to be given to adverse pary  before producing secondary documentary evidence? a) When original is destroyed b) When original is immovable c) When original is electronic record d) When original is in possession of adverse party

Last Answer : d) When original is in possession of adverse party

Of documentary evidence explained in a) Chapter IV of Evidence Act b) Chapter III of Evidence Act c) Chapter V of Evidence Act d) None of these

Description : Of documentary evidence explained in a) Chapter IV of Evidence Act b) Chapter III of Evidence Act c) Chapter V of Evidence Act d) None of these 

Last Answer : c) Chapter V of Evidence Act

Indian evidence act includes a) Oral evidence b) Documentary evidence c) Electronic records d) All the above

Description : Indian evidence act includes a) Oral evidence b) Documentary evidence c) Electronic records d) All the above 

Last Answer : d) All the above 

Mark the correct option a) All statements which the court permits or requires to be made before it by witnesses, in relation to matters of fact under inquiry such statements are called oral evidence b) All documents including electronic records produced for the inspection of the court called as documentary evidence c) Both the A and B are correct d) Neither A nor B are correct.

Description : Mark the correct option a) All statements which the court permits or requires to be made before it by  witnesses, in relation to matters of fact under inquiry such statements are called  oral evidence b) ... documentary evidence c) Both the A and B are correct d) Neither A nor B are correct.

Last Answer : c) Both the A and B are correct

Evidence under the Indian Evidence Act means & includes (a) Ocular evidence (b) Documentary evidence (c) Ocular and documentary evidence both (d) Ocular evidence based on documents only.

Description : Evidence under the Indian Evidence Act means & includes (a) Ocular evidence (b) Documentary evidence (c) Ocular and documentary evidence both (d) Ocular evidence based on documents only.

Last Answer : (c) Ocular and documentary evidence both

he steps in the preparation of a worksheet do not include a. analyzing documentary evidence. b. preparing a trial balance on the worksheet. c. entering the adjustments in the adjustment columns. d. entering adjusted balances in the adjusted trial balance columns.

Description : he steps in the preparation of a worksheet do not include a. analyzing documentary evidence. b. preparing a trial balance on the worksheet. c. entering the adjustments in the adjustment columns. d. entering adjusted balances in the adjusted trial balance columns.

Last Answer : a. analyzing documentary evidence.

Which of the following hold the highest value of evidence in the court? A. Documentary B. Demonstrative C. Testimonial D. Real

Description : Which of the following hold the highest value of evidence in the court? A. Documentary B. Demonstrative C. Testimonial D. Real

Last Answer : D. Real

Which of the following hold the highest value of evidence in the court? a. Documentary b. Demonstrative c. Testimonial d. Real

Description : Which of the following hold the highest value of evidence in the court? a. Documentary b. Demonstrative c. Testimonial d. Real

Last Answer : d. Real

Is it obvious or not obvious why some stores charge customers (annual for eg.) a fee in order to sell them their products?

Description : Is it obvious or not obvious why some stores charge customers (annual for eg.) a fee in order to sell them their products?

Last Answer : I worked in a grocery store that was a Franchise and that company charges a fee to have the ideal placement on the shelves, or near the cash register , knowing that some people (or most) buy on impulse. That is why adverting of a product with colorful and eye catching themes becomes very important .

Sometimes an auditor is called upon to review the operations of an enterprise for evaluating their cost-effectiveness. What is this kind of audit generally known as ? (A) Cost Audit (B) Operations Audit (C) Tax Audit (D) Independent Financial Audit

Description : Sometimes an auditor is called upon to review the operations of an enterprise for evaluating their cost-effectiveness. What is this kind of audit generally known as ? (A) Cost Audit (B) Operations Audit (C) Tax Audit (D) Independent Financial Audit

Last Answer : Answer: Cost Audit

When the existing companies raise additional funds by issue of shares to the existing shareholders in proportion to their existing shareholdings, it is called– (A) Buyback of shares (B) Issue of shares at premium (C) Issue of shares at discount (D) Right shares issue

Description : When the existing companies raise additional funds by issue of shares to the existing shareholders in proportion to their existing shareholdings, it is called– (A) Buyback of shares (B) Issue of shares at premium (C) Issue of shares at discount (D) Right shares issue

Last Answer : Answer: Right shares issue

What is the theory of social responsibility that focuses on how companies respond to issues, rather than trying to determine their ultimate social responsibility, called ? (A) Corporate social performance (B) Corporate social responsiveness (C) Stewardship principle (D) Enlightened self-interest

Description : What is the theory of social responsibility that focuses on how companies respond to issues, rather than trying to determine their ultimate social responsibility, called ? (A) Corporate social performance (B) Corporate social responsiveness (C) Stewardship principle (D) Enlightened self-interest

Last Answer : Answer: Corporate social performance

The ‘Principle of Exception’ states that management should– (A) Check everything without exception (B) Invariably take corrective action without exception (C) Accept exceptions in emergencies (D) Concentrate their attention on exceptions

Description : The ‘Principle of Exception’ states that management should– (A) Check everything without exception (B) Invariably take corrective action without exception (C) Accept exceptions in emergencies (D) Concentrate their attention on exceptions

Last Answer : Answer: Concentrate their attention on exceptions

Some organizations have escalator clause in their labour agreements. What does this clause provide for ? (A) Automatic increase in wage/salary depending on seniority (B) Wage increase depending on output per day by the worker (C) Automatic increase in wage/salary depending upon increase in price index (D) Automatic increase in wage/salary depending on increase in profits of the firm

Description : Some organizations have escalator clause in their labour agreements. What does this clause provide for ? (A) Automatic increase in wage/salary depending on seniority (B) Wage increase depending on output ... index (D) Automatic increase in wage/salary depending on increase in profits of the firm

Last Answer : Answer: Automatic increase in wage/salary depending on increase in profits of the firm

The major forensic categories of devices where evidence can be found: a) Internet-based b) Stand-alone computers c) Mobile devices d) All of the above

Description : The major forensic categories of devices where evidence can be found: a) Internet-based b) Stand-alone computers c) Mobile devices d) All of the above

Last Answer : d) All of the above

4. What are the three general categories of computer systems that can contain digital evidence? a. Desktop, laptop, server b. Personal computer, Internet, mobile telephone c. Hardware, software, networks d. Open computer systems, communication systems, embedded systems

Description : 4. What are the three general categories of computer systems that can contain digital evidence? a. Desktop, laptop, server b. Personal computer, Internet, mobile telephone c. Hardware, software, networks d. Open computer systems, communication systems, embedded systems

Last Answer : d. Open computer systems, communication systems, embedded systems

What are the three general categories of computer systems that can contain digital evidence? a. Desktop, laptop, server b. Personal computer, Internet, mobile telephone c. Hardware, software, networks d. Open computer systems, communication systems, embedded systems

Description : What are the three general categories of computer systems that can contain digital evidence? a. Desktop, laptop, server b. Personal computer, Internet, mobile telephone c. Hardware, software, networks d. Open computer systems, communication systems, embedded systems

Last Answer : d. Open computer systems, communication systems, embedded systems

What are the three general categories of computer systems that can contain digital evidence? a. Desktop, laptop, server b. Personal computer, Internet, mobile telephone c. Hardware, software, networks d. Open computer systems, communication systems, embedded systems

Description : What are the three general categories of computer systems that can contain digital evidence? a. Desktop, laptop, server b. Personal computer, Internet, mobile telephone c. Hardware, software, networks d. Open computer systems, communication systems, embedded systems

Last Answer : d. Open computer systems, communication systems, embedded systems

What are the three general categories of computer systems that can contain digital evidence? a. Desktop, laptop, server b. Personal computer, Internet, mobile telephone c. Hardware, software, networks d. Open computer systems, communication systems, embedded systems

Description : What are the three general categories of computer systems that can contain digital evidence? a. Desktop, laptop, server b. Personal computer, Internet, mobile telephone c. Hardware, software, networks d. Open computer systems, communication systems, embedded systems

Last Answer : d. Open computer systems, communication systems, embedded systems

What are the three general categories of computer systems that can contain digital evidence? A. Desktop, laptop, server B. Personal computer, Internet, mobile telephone C. Hardware, software, networks D. Open computer systems, communication systems, and embedded systems

Description : What are the three general categories of computer systems that can contain digital evidence? A. Desktop, laptop, server B. Personal computer, Internet, mobile telephone C. Hardware, software, networks D. Open computer systems, communication systems, and embedded systems

Last Answer : D. Open computer systems, communication systems, and embedded systems

What are the three general categories of computer systems that can contain digital evidence? a. Desktop, laptop, server b. Personal computer, Internet, mobile telephone c. Hardware, software, networks d. Open computer systems, communication systems, embedded systems

Description : What are the three general categories of computer systems that can contain digital evidence? a. Desktop, laptop, server b. Personal computer, Internet, mobile telephone c. Hardware, software, networks d. Open computer systems, communication systems, embedded systems

Last Answer : d. Open computer systems, communication systems, embedded systems

Which of the following statements is correct? a. Sufficiency refers to the quality of evidence, while appropriateness refers to the quantity of evidence. b. The reliability of evidence is influenced not by its nature but by its source. c. The performance of consulting services for audit clients does not, in and of itself, impair the auditor’s independence. d. A belief that management and those charged with governance are honest and have integrity relieves the auditor of the need to maintain professional scepticism.

Description : Which of the following statements is correct? a. Sufficiency refers to the quality of evidence, while appropriateness refers to the quantity of evidence. b. The reliability of evidence is ... are honest and have integrity relieves the auditor of the need to maintain professional scepticism.

Last Answer : The performance of consulting services for audit clients does not, in and of itself, impair the auditor’s independence

Which of the following statements is true concerning evidence in an assurance engagement? a. The reliability of evidence is influenced not by its nature but by its source. b. Sufficiency is the measure of the quantity of evidence. c. Obtaining more evidence may compensate for its poor quality. d. Appropriateness is the measure of the quality of evidence, that is, its reliability and persuasiveness.

Description : Which of the following statements is true concerning evidence in an assurance engagement? a. The reliability of evidence is influenced not by its nature but by its source. b. Sufficiency is ... Appropriateness is the measure of the quality of evidence, that is, its reliability and persuasiveness.

Last Answer : Sufficiency is the measure of the quantity of evidence.

It refers to the attribute or quality of audit evidence. a. Sufficiency b. Relevance c. Reliability d. Appropriateness

Description : It refers to the attribute or quality of audit evidence. a. Sufficiency b. Relevance c. Reliability d. Appropriateness

Last Answer : Appropriateness

Which is the process of gathering evidence supporting inferences based test scores? a. Validation b. Validity c. Reliability d. Prediction

Description : Which is the process of gathering evidence supporting inferences based test scores? a. Validation b. Validity c. Reliability d. Prediction

Last Answer : a. Validation

If the purchases made during the year were Rs. 60,000, the balance of stock in trade at the beginning and at the end of the year were Rs. 12,000 and Rs. 9,000 respectively and the gross profit on sales was 1/5th, when which one of the following represents the figure of gross profit for the year ? (A) Rs. 15,750 (B) Rs. 14,000 (C) Rs. 12,500 (D) Rs. 17,250

Description : If the purchases made during the year were Rs. 60,000, the balance of stock in trade at the beginning and at the end of the year were Rs. 12,000 and Rs. 9,000 respectively and the gross profit on sales was 1/5th, when which ... year ? (A) Rs. 15,750 (B) Rs. 14,000 (C) Rs. 12,500 (D) Rs. 17,250

Last Answer : Answer: Rs. 12,500

The loss on the sale of old furniture is debited to– (A) profit & loss account (B) furniture account (C) trading account (D) depreciation account

Description : The loss on the sale of old furniture is debited to– (A) profit & loss account (B) furniture account (C) trading account (D) depreciation account

Last Answer : Answer: profit & loss account

Maintenance of intended delegation requires that decisions lying within the individual managers’ authority should be made by them and not referred upwards in the organizational hierarchy. This is known as– (A) principle of unity of command (B) scalar principle (C) authority level principle (D) principle of absoluteness of responsibility

Description : Maintenance of intended delegation requires that decisions lying within the individual managers' authority should be made by them and not referred upwards in the organizational hierarchy. This is ... scalar principle (C) authority level principle (D) principle of absoluteness of responsibility

Last Answer : Answer: authority level principle

Wider span of control is effective in organization where– (A) authority delegation is inadequate (B) tasks are complex (C) thorough subordinate training scheme exists (D) the leadership style is authoritarian

Description : Wider span of control is effective in organization where– (A) authority delegation is inadequate (B) tasks are complex (C) thorough subordinate training scheme exists (D) the leadership style is authoritarian

Last Answer : Answer: thorough subordinate training scheme exists

One of the major disadvantages of the Matrix form of organization structure is that– (A) it does not pinpoint product profit responsibility (B) it is not oriented towards results (C) there is possibility of disunity of command (D) it generates rivalry between line and staff members

Description : One of the major disadvantages of the Matrix form of organization structure is that– (A) it does not pinpoint product profit responsibility (B) it is not oriented towards results (C) there is possibility of disunity of command (D) it generates rivalry between line and staff members

Last Answer : Answer: there is possibility of disunity of command

Which Stock Exchange was the first to introduce a transparent, screen-based trading system in the wholesale debt market including govt. securities in 1994 ? (A) Bombay Stock Exchange (B) Delhi Stock Exchange (C) National Stock Exchange (D) Jaipur Stock Exchange

Description : Which Stock Exchange was the first to introduce a transparent, screen-based trading system in the wholesale debt market including govt. securities in 1994 ? (A) Bombay Stock Exchange (B) Delhi Stock Exchange (C) National Stock Exchange (D) Jaipur Stock Exchange

Last Answer : Answer: National Stock Exchange

Which one of the following statements is false ? (A) The Open Market Operations involve the sale or purchase of govt. securities by the Central Bank (B) The RBI manages longterm liquidity through rapos (C) The RBI manages longterm liquidity through Open Market Operations (D) Open Market Operations do not alter the total stock of govt. securities but change the proportion of govt. securities held by the RBI, Commercial Banks and Co-operative Banks

Description : Which one of the following statements is false ? (A) The Open Market Operations involve the sale or purchase of govt. securities by the Central Bank (B) The RBI manages longterm liquidity through ... change the proportion of govt. securities held by the RBI, Commercial Banks and Co-operative Banks

Last Answer : Answer: The RBI manages longterm liquidity through rapos

The Open Market Operations [OMOs] is an important tool of– (A) Forex management (B) Liquidity management (C) Inventory management (D) Marketing management

Description : The Open Market Operations [OMOs] is an important tool of– (A) Forex management (B) Liquidity management (C) Inventory management (D) Marketing management

Last Answer : Answer: Liquidity management

Which one of the following is not an objective of the introduction of Primary Dealer System ? (A) To encourage a voluntary holding of govt. securities amongst a wider investor base (B) To make Primary Dealer System an effective conduct of open market operations (C) To strengthen the private equity infrastructure (D) To strengthen the govt. securities infrastructure

Description : Which one of the following is not an objective of the introduction of Primary Dealer System ? (A) To encourage a voluntary holding of govt. securities amongst a wider investor base (B) To ... (C) To strengthen the private equity infrastructure (D) To strengthen the govt. securities infrastructure

Last Answer : Answer: To strengthen the private equity infrastructure

The tool used by auditor to monitor and control the progress of audit work is– (A) Engagement diary (B) Audit programme (C) Audit working papers (D) Audit notes.

Description : The tool used by auditor to monitor and control the progress of audit work is– (A) Engagement diary (B) Audit programme (C) Audit working papers (D) Audit notes.

Last Answer : Answer: Audit programme

Which one of the following securities cannot be issued by a Public Limited Company in India ? (A) Participating preference shares (B) Redeemable preference shares (C) Deferred shares (D) Debentures.

Description : Which one of the following securities cannot be issued by a Public Limited Company in India ? (A) Participating preference shares (B) Redeemable preference shares (C) Deferred shares (D) Debentures.

Last Answer : Answer: Deferred shares

If the goodwill raised at the time of retirement of a partner is to be written-off, then the capital accounts of the remaining partners are debited in– (A) New profit sharing ratio (B) Capital ratio (C) Old profit sharing ratio (D) Sacrificing ratio

Description : If the goodwill raised at the time of retirement of a partner is to be written-off, then the capital accounts of the remaining partners are debited in– (A) New profit sharing ratio (B) Capital ratio (C) Old profit sharing ratio (D) Sacrificing ratio

Last Answer : Answer: Old profit sharing ratio

When an incoming partner purchases his share from any one of the existing partners, then– (A) total assets of the firm do not change (B) total assets of the firm will be augmented to the extent of payment received from the new partner (C) total assets of the firm will be reduced to the extent of payment received from the new partner (D) change in total assets of the firm will depend upon the new profit sharing ratio of the partners

Description : When an incoming partner purchases his share from any one of the existing partners, then- (A) total assets of the firm do not change (B) total assets of the firm will be augmented to the extent ... ) change in total assets of the firm will depend upon the new profit sharing ratio of the partners

Last Answer : Answer: total assets of the firm do not change

Any person aggrieved by any decision or order of the National Company Law Appellate Tribunal can appeal to which one of the following and within how much period ? (A) High Court, within 30 days (B) Supreme Court within 60 days (C) SEBI within 90 days (D) Department of Companies Affairs within 60 days

Description : Any person aggrieved by any decision or order of the National Company Law Appellate Tribunal can appeal to which one of the following and within how much period ? (A) High Court, within 30 days (B) ... Court within 60 days (C) SEBI within 90 days (D) Department of Companies Affairs within 60 days

Last Answer : Answer: Supreme Court within 60 days