Practical Question:

Organized Ltd. utilizes standard expense framework. The accompanying data relates to coordinate work for Product X for the period of March, 2019: Standard rate each hour are 8, Actual rate each hour are 8.40, Standard hours considered real creation are 2000 hours, Labor Efficiency fluctuation is 1,600 (Adverse) What were the real hours worked?

Mcq Questions:

I. Statutory Auditor is chosen by the financial backer in the

(A) General Meeting

(B) Statutory Meeting

(C) EGM

(D) Board Meeting

II. Statutory Auditor can be killed by the

(A) Shareholders

(B) Audit leading group of trustees

(C) BOD

(D) None of the previously mentioned

III. If the Debentures are given as assurance security either to Banks or Creditors the Auditor needs to ensure that such issue is asserted by

(A) Shareholders

(B) Board of Directors

(C) Debenture Trustee

(D) Audit Committee

IV. As per SQC 1, Audit working papers should be held for a period of

(A) 2 years

(B) 5 years

(C) 7 years

(D) 10 years

V. Internal Auditor is assigned by

(A) Audit Committee

(B) Shareholders in General Meeting

(C) Extraordinary General Meeting

(D) Board of Directors

VI. Cost Audit Report is submitted to Board of Directors in Form No.

(A) CRA-1

(B) CRA-2

(C) CRA-3

(D) CRA-4

VII. Audit of debenture is covered under territory

(A) 70

(B) 71

(C) 72

(D) 73

VIII. An individual auditor who has completed his term won't be equipped for reappointment as commentator in a comparable association for

(A) Next 3 Years

(B) Next 5 Years

(C) Next 7 Years

(D) Next 8 Years

IX. Secretarial Audit is pertinent to the Public Company having the settled up share capital of $ .

(A) 50 crore

(B) 75 crore

(C) 100 crore

(D) 200 crore

X. Internal Control Questionnaire contains the requests which ought to be followed by the .

(A) Employer of the affiliation

(B) Employee of the affiliation

(C) Auditor of the component

(D) Banker to the affiliation

XI. Which of coming up next is barred from the Current Audit File?

(A) Memorandum and Articles of Association

(B) Current year's survey program

(C) Internal Control Questionnaire

(D) Copies of expenditure plan