Question
Statements: R ≥ T < U = V > W ≥ X, S < X > Y >
Z Conclusions: I. U > S II. T > Z In the following question the relationship between different elements are given in the statements followed by two conclusions I and II. Read the statements carefully and mark your answer accordingly.Solution
R ≥ T < U = V > W ≥ X > S U > S. Hence conclusion I is true. R ≥ T < U = V > W ≥ X > Y > Z No relationship cab be established between T and Z. Hence conclusion II is not true.
Which of the following is a primary objective of auditing?
A sale of Rs. 25,000 to A was entered as a sale to B. This is an example of _
Which of the following best describes analytical procedures as per SA 520?
Client has breached debt covenants; lender issued waiver valid for 9 months after balance sheet date. Auditor notes liquidity support from group company...
Process of verifying the documentary evidences of transactions are known as:
An auditor finds material misstatements due to fraud but the management refuses to take corrective action. What should be the auditor’s next step?
An auditor notices that a bank’s internal controls over loan approvals are weak, but substantive testing of balances shows no material misstatements. ...
________ the audit risks _________ the materiality and _______ the audit effort
Which of the following constitutes the most reliable audit evidence?
Late-year reinsurance treaties significantly reduce reported loss ratio. Which step is most relevant to fraud risk of “window dressing”?
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