Question
Statements: No data is a number. Some numbers
are not letters. Only letters are consonants. Conclusions: I. All letters may be consonants. II. All consonants are letters. In each of the questions below are given three statements followed by two conclusions numbered I and II. You have to take the given statements to be true even if they seem to be at variance with commonly known facts. Read both the conclusions and then decide which of given conclusions logically follows from the given statements disregarding commonly known facts. Give answerSolution
Only letters are consonants. ⇒ Some letters are consonants (I) ⇒ Probable conclusion ⇒ All letters may be consonants (A). Hence, Conclusion I will follow. Only letters are consonants ⇒ All consonants are letters (A). Hence, conclusion II will also follow.
Which principle requires that the financial affairs of the business must be kept separate from the personal affairs of the owner(s)?
Under CARO 2020, which of the following matters is required to be reported by the auditor?
CARO, 2020 is applicable to which of the following companies?
A printing firm completes a specific order for 5,000 brochures for a client. What is the most appropriate costing method?
Which of the following is NOT a key element of an independent auditor’s report under SA 700?
Internal auditor is removed and appointed by which among the following?
According to SA 240, which of the following is TRUE regarding auditor’s responsibility in detecting fraud?
Which of the following deductions is/are available as deduction from income under both the old and new tax regime of Income Tax?
If the auditor is unable to obtain sufficient audit evidence and the possible effect is material but not pervasive, what type of opinion is issued?
An auditor finds management has overridden controls, leading to possible material misstatements. As per SA 240, what should the auditor do?