Question
The average cost of 3 chairs is Rs. 8000. The average
cost decrease by 20% when one more chair is included. What is the cost price of the 4th chair?Solution
Total cost of 3 chairs = 8000 × 3 = Rs. 24000 Average cost of all the 4 chairs = 8000 × (80/100) = Rs. 6400 Total cost of all the 4 chairs = 6400 × 4 = Rs. 25600 Cost of the 4th chair = 25600 - 24000 = Rs. 1600
Which of the following is NOT part of auditor’s understanding of the entity and its environment under SA 315?
Which of the following financial statements can be prepared using a receipt and payment account?
Which of the following is NOT a key element of an independent auditor’s report under SA 700?
During a statutory audit, the auditor discovers a pattern of journal entries posted near year-end reversing shortly after year-end that inflate reported...
Vouching primarily relates to:
Internal auditor is removed and appointed by which among the following?
Which of the following provides the most reliable audit evidence?
Which of the following is NOT a type of audit opinion as per SA 700?
Internal check is a part of the:
Why must auditors obtain an understanding of internal control even if they do not intend to rely on it?
