Question
Cost price of a bag is Rs.760. The shopkeeper marked it
70% above the cost price and sold it after giving a discount of 25%. If the shopkeeper had sold it at a profit of 30%, then find the difference between original and new selling price of a bag.Solution
Original selling price of a bag = (170/100) × (75/100) × 760 = Rs.969 New selling price of a bag = (130/100) × 760 = Rs.988 Required difference = 988 – 969 = Rs.19
Which of the following is an example of a "Test of Control" in an audit?
A "Qualified Opinion" is expressed by an auditor when:
……… is an audit on a legal entity (the auditee) by two or more auditors to produce a single audit report, thereby sharing responsib...
Under CARO 2020, which of the following matters is required to be reported by the auditor?
Which auditing standard outlines the auditor's responsibilities relating to fraud in an audit of financial statements?
CARO, 2020 is applicable to which of the following companies?
The primary objective of an audit is to:
Who is primarily responsible for preventing and detecting frauds in an organisation?
Which of the following is an example of an "Inherent Risk" factor?
An auditor identifies a material misstatement due to fraud in financial statements. What should be his immediate course of action?
Relevant for Exams:
