Question
In relation to internal control, which of the following
statements is/are correct? (i) It is a continuous critical review of financial and operating activities by a staff member of the auditor. (ii) It consists of all the methods and procedures adopted to assist in achieving the objective of efficient conduct of business. (iii) It is a system of allocation of responsibility, division of work and methods of recording transactions, whereby the work of an employee is checked continuously by another.Solution
The correct answer is A
A software company enters into a ₹10 lakh contract including installation and training. Installation is ₹8 lakh and training ₹2 lakh. Installation...
The first Annual General Meeting of the company shall be held ______________
Which metric is commonly used to evaluate a company’s operational efficiency?
A project has IRR of 14% and NPV of ₹5 lakhs at 10% cost of capital. If cost of capital rises to 16%, what will happen to NPV?
Auditor notes that the company has accumulated losses exceeding net worth, but management claims recovery. What should auditor consider?
Under what circumstances must Reporting Entities (REs) obtain the Aadhaar number from an individual during the Customer Due Diligence (CDD) process?
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Which of the following account has a Credit Balance?
Read the following information to answer the below questions:Â
All shares in respect of which dividend has not been paid or claimed for seven consecutive years or more shall be transferred by the company to ______
