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

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

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

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

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

According to going concern concept a business entity is assumed to have– (A) A long life (B) A small life (C) A very short life (D) A definite life

Description : According to going concern concept a business entity is assumed to have– (A) A long life (B) A small life (C) A very short life (D) A definite life

Last Answer : Answer: A long life

Recording of capital contributed by the owner as liability ensures the adherence of principle of– (A) Consistency (B) Going concern (C) Separate entity (D) Materiality

Description : Recording of capital contributed by the owner as liability ensures the adherence of principle of– (A) Consistency (B) Going concern (C) Separate entity (D) Materiality

Last Answer : Answer: Separate entity

In an engagement to perform agreed-upon procedures, an auditor is engaged to: a. Use accounting expertise as opposed to auditing expertise to collect, classify, and summarize financial information. b. Provide a moderate level of assurance that the information is free of material misstatement. c. Provide a high, but not absolute, level of assurance that the information is free of material misstatement. d. Carry out those procedures of an audit nature to which the auditor and the entity and any appropriate third parties have agreed and to report on factual findings

Description : In an engagement to perform agreed-upon procedures, an auditor is engaged to: a. Use accounting expertise as opposed to auditing expertise to collect, classify, and summarize financial information. b ... and the entity and any appropriate third parties have agreed and to report on factual findings

Last Answer : Carry out those procedures of an audit nature to which the auditor and the entity and any appropriate third parties have agreed and to report on factual findings

Which of the following statements is not a distinction between independent auditing and internal auditing? a. Independent auditors represent third party users external to the auditee entity, whereas internal auditors report directly to management. b. Internal auditors are employees of the auditee, whereas independent auditors are independent contractors. c. The internal auditor's span of coverage goes beyond financial auditing to encompass operational and performance auditing. d. Although independent auditors strive for both validity and relevance of evidence, internal auditors are concerned almost exclusively with validity.

Description : Which of the following statements is not a distinction between independent auditing and internal auditing? a. Independent auditors represent third party users external to the auditee entity, ... validity and relevance of evidence, internal auditors are concerned almost exclusively with validity.

Last Answer : Although independent auditors strive for both validity and relevance of evidence, internal auditors are concerned almost exclusively with validity.

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

Which one of the following statements is false ? (A) A ‘Demat Share’ is held by the depository on behalf of the investor whereas a ‘Physical Share’ is held by the investor himself (B) There is no stamp duty on the transfer of ‘Demat Shares’ from one account to another (C) The ‘Demat Share’ does not have a folio number, distinctive number or certificate number like a ‘Physical Share’ (D) The ‘Demat Share’ cannot be converted into a ‘Physical Share’

Description : Which one of the following statements is false ? (A) A Demat Share' is held by the depository on behalf of the investor whereas a Physical Share' is held by the investor himself (B) There is no ... number like a Physical Share' (D) The Demat Share' cannot be converted into a Physical Share'

Last Answer : Answer: The ‘Demat Share’ cannot be converted into a ‘Physical Share’

Stock should include– (A) Goods held as security (B) Goods held as consignee (C) Goods with customers for approval on sale or return basis (D) Goods sold but not delivered

Description : Stock should include– (A) Goods held as security (B) Goods held as consignee (C) Goods with customers for approval on sale or return basis (D) Goods sold but not delivered

Last Answer : Answer: Goods held as consignee

A meeting of the shareholders held only once during the life time of the company is known as– (A) Meeting of the Directors (B) Meeting of the Creditors (C) Extraordinary General Meeting (D) Statutory Meeting

Description : A meeting of the shareholders held only once during the life time of the company is known as– (A) Meeting of the Directors (B) Meeting of the Creditors (C) Extraordinary General Meeting (D) Statutory Meeting

Last Answer : Answer: Statutory Meeting

XYZ Ltd. issued 10,000 shares of Rs. 100 each at Rs. 120 per share with Rs. 25 on application, Rs. 45 on allotment including premium, Rs. 20 on first call and Rs. 30 on final call. Govind who held 200 shares did not pay any call money and his shares were forfeited. What is the amount to be credited to Share Forfeiture Account on forfeiture ? (A) Rs. 14,000 (B) Rs. 10,000 (C) Rs. 9,000 (D) Rs. 4,000

Description : XYZ Ltd. issued 10,000 shares of Rs. 100 each at Rs. 120 per share with Rs. 25 on application, Rs. 45 on allotment including premium, Rs. 20 on first call and Rs. 30 on final call. Govind who held 200 shares did not pay ... forfeiture ? (A) Rs. 14,000 (B) Rs. 10,000 (C) Rs. 9,000 (D) Rs. 4,000

Last Answer : Answer: Rs. 10,000

________ is a temporary pass through account held by a third party during the process of a transaction between two parties. A. Savings Bank Account B. Current Account C. Deposit Account D. Escrow Account E. None of the Above

Description : ________ is a temporary pass through account held by a third party during the process of a transaction between two parties. A. Savings Bank Account B. Current Account C. Deposit Account D. Escrow Account E. None of the Above

Last Answer : D. Escrow Account Explanation: Escrow Account: Account in which funds are accumulated for specific disbursements. It is a temporary pass through account held by a third party during the process of a transaction between two parties.

If a CPA recklessly abandons standards of due care and diligence while performing an audit, he or she may be held liable tounknown third parties for:a. Gross negligence.b. Fraudulent misconduct.c. Gross misconduct.d. Contributory negligence.

Description : If a CPA recklessly abandons standards of due care and diligence while performing an audit, he or she may be held liable to unknown third parties for: a. Gross negligence. b. Fraudulent misconduct. c. Gross misconduct. d. Contributory negligence.

Last Answer : Gross negligence

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

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

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

Which of the following is one of the limitations of an audit? a. Nature of evidence obtained b. Inadequacy of the accounting records c. Confidentiality of information d. Scope limitations imposed by the entity

Description : Which of the following is one of the limitations of an audit? a. Nature of evidence obtained b. Inadequacy of the accounting records c. Confidentiality of information d. Scope limitations imposed by the entity

Last Answer : Nature of evidence obtained

Which of the following does an auditor least likely perform in assessing audit risk? a. Understand the economic substance of significant transactions completed by the client. b. Understand the entity and the industry in which it operates. c. Gather audit evidence in support of recorded transactions. d. Obtain an understanding of the client's system of internal contro

Description : Which of the following does an auditor least likely perform in assessing audit risk? a. Understand the economic substance of significant transactions completed by the client. b. Understand the entity ... of recorded transactions. d. Obtain an understanding of the client's system of internal contro

Last Answer : Gather audit evidence in support of recorded transactions

If the auditor learns that an entity is inappropriately using the auditor’s name in association with financial information, he/she should: a. Remain silent. b. Seek legal advice if necessary. c. Require management to cease doing so. d. Inform any known third party users of the inappropriate use of his/her name in connection with the information

Description : If the auditor learns that an entity is inappropriately using the auditor's name in association with financial information, he/she should: a. Remain silent. b. Seek legal advice if necessary. c ... known third party users of the inappropriate use of his/her name in connection with the information

Last Answer : Require management to cease doing so.

Is German chocolate cake a dessert originating from Germany?

Description : Is German chocolate cake a dessert originating from Germany?

Last Answer : The name “German” is not regarding the country of Germany. The type of chocolate used in the cake, is named for the man who developed the type of chocolate, Samuel German, who worked for Baker’s Chocolate Company. Here’s the whole story: https://en.wikipedia.org/wiki/German_chocolate_cake

How natural is it to think of thought as originating inside our heads?

Description : How natural is it to think of thought as originating inside our heads?

Last Answer : People also once thought the world was flat. To the unknowing, one could easily associate thoughts with the heart or gut as that is where thoughts will manifest nervous system stimulation from increased ... on knotted stomach and cold sweats. So IMO, yes it would natural to make that association.

Why is the name of this virus originating from China now ?

Description : Why is the name of this virus originating from China now ?

Last Answer : Corona virus is not an institutional name. Basically the virus is unknown. The virus invades the human lung , coronary unit and causes pneumonia type cold cough. That is why it is easily called corona virus ... Kovid-19. This name has been given because it is similar to Corona and was found in 2019.

What is the name of the river originating from the Arakan Mountains ?

Last Answer : The name of the river originating from the Arakan Mountains is "Sangu River".

Which of the following are triploblastic, acoelomate with blind sac type of body plan, and parechyma cells originating from mesoderm fill up the cavit

Description : Which of the following are triploblastic, acoelomate with blind sac type of body plan, and parechyma cells originating from mesoderm fill up the cavit

Last Answer : Which of the following are triploblastic, acoelomate with blind sac type of body plan, and ... B. Plathyhelminthes C. Annelids D. Arthropoda

What is the most likely explanation for the observation that two individuals originating from the same clone look different? (a) They developed in different environments (b) They are differentially adapted to the same environment (c) The clone from which they originated had more than one genotype (d) They differ in heterozygosity

Description : What is the most likely explanation for the observation that two individuals originating from the same clone look different? (a) They developed in different environments (b) They are differentially ... clone from which they originated had more than one genotype (d) They differ in heterozygosity

Last Answer : Ans:(a)

As er the TRIPS Agreement-1994, a good originating from a region with specific character/ quality/reputation is covered/to be protected under the IPR as - (1) Patent (2) Trademark (3) Trade secret (4) GI (Geographical Indicator)

Description : As er the TRIPS Agreement-1994, a good originating from a region with specific character/ quality/reputation is covered/to be protected under the IPR as - (1) Patent (2) Trademark (3) Trade secret (4) GI (Geographical Indicator)

Last Answer : (4) GI (Geographical Indicator) Explanation: Geographical Indication (GI) means the name of a region or a locality, a specific place or, in exceptional cases, a country, used to describe a ... the production and/or processing and/or preparation of which take place in the defined geographical area.

The originating point of river godavri is – (1) Nasik (2) Pune (3) Mumbai (4) Sholapur

Description : The originating point of river godavri is – (1) Nasik (2) Pune (3) Mumbai (4) Sholapur

Last Answer : (1) Nasik Explanation: The Godavari is a river in the south-central India. It originates in the Western Ghats Trimbakeshwar, in the Nasik Subdivision of the western state of Maharashtra and flows through the modern state of Andhra Pradesh before reaching the Bay of Bengal.

External noise originating outside the solar system A. Cosmic noise B. Solar noise C. Thermal noise D. Lunar noise

Description : External noise originating outside the solar system A. Cosmic noise B. Solar noise C. Thermal noise D. Lunar noise

Last Answer : A. Cosmic noise

The tornadoes are very strong tropical cyclones originating in which sea?

Description : The tornadoes are very strong tropical cyclones originating in which sea?

Last Answer : Caribbean sea

What does DOS stands for: a) Disk Originating System b) Dynamic Operating System c) Disk Operating System d) Default Operating System e) None of The Above

Description : What does DOS stands for: a) Disk Originating System b) Dynamic Operating System c) Disk Operating System d) Default Operating System e) None of The Above

Last Answer : c) Disk Operating System

The process of self-digestion of selective non-functional organelles by a cell through the action of enzymes originating within the cell is referred to as (A) Pinocytosis (B) Endocytosis (C) Autophagy (D) Cytotoxicity

Description : The process of self-digestion of selective non-functional organelles by a cell through the action of enzymes originating within the cell is referred to as (A) Pinocytosis (B) Endocytosis (C) Autophagy (D) Cytotoxicity

Last Answer : (C) Autophagy

As per the TRIPS Agreement1994, a good originating from a region with specific character/ quality/reputation is covered/to be protected under the IPR as (1) Patent (2) Trademark (3) Trade secret (4) GI (Geographical Indicator)

Description : As per the TRIPS Agreement1994, a good originating from a region with specific character/ quality/reputation is covered/to be protected under the IPR as (1) Patent (2) Trademark (3) Trade secret (4) GI (Geographical Indicator)

Last Answer :  GI (Geographical Indicator)

The originating point of river godavri is (1) Nasik (2) Pune (3) Mumbai (4) Sholapur

Description : The originating point of river godavri is (1) Nasik (2) Pune (3) Mumbai (4) Sholapur

Last Answer : Nasik

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 .

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

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